Cabot Business Center in Phoenix, AZ sells for $11,375,000
Phoenix, Ariz. (August 23, 2017) – Dunbar CBC, LLC, an affiliate of California-based Dunbar Real Estate Investment Management, has sold Cabot Business Center for $11,375,000. Kidder Mathews commercial real estate brokers, Darren Tappen, Peter Beauchamp, Aric Adams, Mike Kasulaitis, and Matthew Ault, represented Dunbar CBC, LLC in the transaction.
The five-story, 109,805 square foot, multi-tenant industrial/flex business center is located at 3802-3922 E University Drive in Phoenix, Arizona.
The buyer was Nicola Crosby Real Estate, a subsidiary of Nicola Wealth Management Ltd, a real estate asset management company, based in Vancouver, British Columbia, that acquires and manages properties for the SPIRE Real Estate Portfolios. This is SPIRE US LP’s first acquisition in the Phoenix market.
“Cabot Business Center is an ideal asset for Nicola Crosby’s first purchase in Phoenix,” said Tappen. “The central location, freeway access, quality of the project, and occupancy level bodes well for the new ownership. They are looking for similar opportunities as they look to become a key player in the Phoenix market,” he said.
Nicola Crosby has retained Kidder Mathews as the new property managers for Cabot Business Center.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with nearly 800 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $5.6 billion in transactions, manages over 46 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.