PHOENIX—American Realty Advisors, on behalf of one of its clients, has sold an office building and data center totaling 513,361 square feet in Phoenix for $91.5 million.
The property is fully occupied by tenant American Express Travel Related Services Company, Inc.
“This asset was poised for strong investor interest, based on the long-term commitment to the property demonstrated by American Express,” says Stanley Iezman, chairman and CEO of American Realty Advisors. “This resulted in an attractive property with a stable rent roll to market to investment groups.”
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