Investor demand remains strong in East Valley
Phoenix, June 4, 2018 – Colliers International in Greater Phoenix completed the sale of a 3,241-square-foot suite at The Presidio medical office plaza at 1100 S. Dobson Road in Chandler to an investor for $1,062,854. This is a recent example of strong investor demand for East Valley properties, specifically medical use real estate.
“This suite at The Presidio was only on the market for a short time and we received multiple offers,” said Philip Wurth, CCIM, with Colliers International. “There is high demand for investment sale properties in the East Valley and these types of properties are often difficult for investors to find. The buyer in this case was seeking a property with a stabilized-credit medical tenant and this perfectly suited their search.”
Wurth represented the seller of the suite, SDBP III, Rick Richmond, in the transaction. Nishel Badiani of Kirans & Associates Realty represented the buyer, NM Alpha, LLC.
The Presidio is a well-known and established development at 1100 S. Dobson Road. The buyer purchased a suite, occupied by an established medical practice.
The Presidio is a three-building project situated on 11.5 acres with approximately 86,000 square feet of medical office space. The Presidio Phase II is slated for development in the coming year, and when complete will offer 48,000 square feet of medical and professional office space. Phase II tenants will enjoy proximity to Dignity Health Chandler Regional Medical Center and prominent freeway signage fronting Loop 202.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.