TIC investors gain Arizona office complex

Tenant-in-common investors have purchased the 152,936-square-foot Talavi Corporate Center in Glendale, Ariz.

The value of the transaction was not disclosed.

The property is a three-story office building located at the southeast corner of 57th Avenue and Talavi Boulevard within the Talavi Business Park.

At the time of sale, the property was approximately 97 percent leased to four tenants: Bechtel Corp., California Casualty Management Co., Progressive Casualty Insurance Co., and Bankers Life and Casualty Co.

An unidentified entity represented by Cushman and Wakefield sold the property.

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