2,800 SF Medical Office Condo Sold in Avondale for $250/SF by GPE Commercial Advisors
(Phoenix, Arizona) – GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 2,800 SF medical office condo located at 10750 West McDonald Road, Suite B210 in Avondale. The property sold for $700,000 ($250/SF), at an 8.2% CAP rate on current income. Rubystone, L.L.C. closed escrow with a 1031 exchange on the condo.
Senior Vice President, Bret Isbell represented the Seller, McDowell Asset Management, L.L.C.. Tom Kuffler of Civic Asset Management, Inc. represented the Buyer.
The condo is currently occupied by Select Medical Physical Therapy, with a multi-year lease.
About GPE Companies:
Celebrating over 40 years in business, GPE Commercial Advisors and GPE Management Services are among the oldest privately owned commercial real estate firms in Arizona. GPE Commercial Advisors is an award-winning team of experienced agents and staff who handle sales and leasing for professional office, medical office, retail, industrial and land properties. GPE Management Services provides licensed professionals, accountants, engineers and staff who keep buildings running smoothly.
Collectively, GPE Companies manages and represents over 9 million square feet of space, with clients ranging from individuals in search of space to publicly traded corporations. GPE has exceeded $2.25 billion in successful transactions. Currently members of many industry organizations including BOMA, NAIOP and Valley Partnership, GPE has been named a Top Leasing Firm by CoStar Power Broker Awards, recognized as one of the top firms by Ranking Arizona since 2008, and has been named one of the Valley's "Best Places to Work" according to Phoenix Business Journal.