Pacific Coast Capital Partners formed a partnership with San Juan Capistrano, Calif.-based Birtcher Anderson Realty for the acquisition of a five-building office and industrial portfolio located in the metropolitan Phoenix.
The value of the transaction was not disclosed.
The 272,000-square-foot portfolio was 100 percent occupied at the time of sale and consists of four single-tenant buildings and one multitenant building. Lafayette, Calif.-based Bedford Property Investors sold the assets, which included:
- 4645 South 35th St., Phoenix – A 71,345-square-foot industrial/showroom building with mezzanine office space leased to Adams Bros Interiors & Cabinets. Built in 1988, the property is situated on 4.6 acres and is located just south of Interstate 10.
- Phoenix Tech Center, 10232 South 51st St., Phoenix – A 39,280-square-foot R&D building leased to Alliance Medical Corp. Built in 1985, the property is situated on 2.6 acres and is located just west of Interstate 10.
- 2601 West Broadway, Tempe – A 44,244-square-foot R&D Building leased to T-Mobile USA, Inc. Built in 1983, the building is situated on 4.19 acres and is located just south of Interstate 17 and just west of Interstate 10.
- 1355 South Clearview Ave., Mesa – A 57,000-square-foot back office building leased to Ford Motor Credit Co. Built in 1997, the building is situated on 5.1 acres and is located just north of Highway 60.
- Cabrillo Executive Center, 8125 North 23rd Ave., Phoenix – A two-story, 60,321-square-foot office building leased to eight tenants, including Sun Microsystems and D.R. Horton, which occupy a combined 67 percent of the building. The property was built in 1983 and is situated on 2.9 acres directly east of Interstate 17.
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