Investors sink money into Phoenix office park

Price per square foot tops $118

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A joint venture between Janez Group and Pacific Coast Capital Partners has acquired Broadway Business Center, a 136,990-square-foot office park in Phoenix. The value of the transaction was approximately $16.2 million. Located on a 10.7-acre site, the Broadway Business Center was built in 1974 and renovated in 1999. Tenants at the fully leased flex-office park include the City of Phoenix and corporate headquarters for Leslie's Poolmart Inc. The Southern California-based investment companies purchased the two-building, multitenant property through an affiliate, PCCP CS JANEZ Broadway LLC. Colrich Broadway Investors sold the complex. ...