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.
What’s your opinion? Send your Letter to the Editor to firstname.lastname@example.org.