GPE Closes Deal on 5,274 SF Medical Office Building in Scottsdale
GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 5,274 SF one-story medical office building located at 7700 East Indian School Road in Scottsdale. The building sold for $975,000 ($185/SF).
Executive Vice President, Julie A. Johnson, CCIM, and Senior Vice President, Alexandra Loye worked on behalf of the seller, 7700 Medical, LLC.. Executive Vice President, Nicholas A. Pelusio, and Senior Vice President, Kevin Helland, worked on behalf of the buyer, Diamondback Commons II, LLC, whom intend to occupy the property for administrative use.
Asked why the buyer acquired the building, Kevin Helland stated: “The building was purchased to permit Diamondback Drugs, a locally-based, rapidly growing veterinary compounding pharmacy; to expand its footprint in the Old Town Scottsdale sub-market.”
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.