A 94,000-square-foot multi-tenant class-A office property in North Phoenix recently sold for $6.275 million. Located at 2233 West Dunlap Ave. in the Metrocenter market, the building was acquired by RW Partners, an Arizona based investor.

Michael Kitlica of Cushman & Wakefield represented the buyer and the seller, Southern California- Transpacific Development Company, was represented by Barry Gabel of CBRE.

“With unparalleled industrial and residential growth in Deer Valley, coupled with Taiwan Semiconductor’s monolithic chip fabrication plant, compelled RW Partners to purchase this asset as a linkage to this growth,” said Kitlica. “With non-existent value-add options in almost every product type, 2233 Dunlap was acquired at a fraction of replication cost, which made it an obvious value-add opportunity.”

Built in 1988 with a $3 million renovation in 2020, 233 Dunlap is a four-story class-A office building on 6.6 acres within one block of Interstate 17 and a light rail stop. The high-image building features a sizable parking garage, and is surrounded by retail amenities and coveted employee base.