ICP Real Estate recently sold a three-building office complex and undeveloped land in Phoenix, Ariz., to a group of tenant-in-common investors for an undisclosed price.

The property, Townley Business Park, comprises nearly 176,000 square feet near the intersection of 23rd Avenue and Dunlap Road. The 1.34-acre parcel of land is located on-site.

The property offers a parking supply of 509 parking spaces, including 30 covered spaces, for a ratio of 4.18 spaces per 1,000 square feet.

At the time of sale, Townley Business Park was 80 percent leased to a variety of national and regional companies specializing in industries such as insurance, healthcare and real estate.


What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top