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CBRE Arranges Office Sale in Phoenix’s Deer Valley

Merit Properties Group divested a 61,304-square-foot single-tenant office building in Phoenix for $7.65 million. The unnamed buyer was a fund managed by a Chicago-based investment management firm.

The Deer Valley submarket asset is located at 16212 N. 28th Ave. and situated on 3.76 acres within the 1.1-million-square-foot, 100-acre, Arizona Business Park. The property, which has been fully leased to a government entity since 2004, was constructed in 1980 and was extensively renovated in 2004 with numerous specialized tenant improvements for the tenant.

CBRE’s Barry Gabel, Chris Marchildon and Will Mast arranged the sale. “Although the transaction commenced previous to COVID-19, the buyer and seller both stood tall and were steadfast with their execution and performed as promised, with a seamless closing,” Gabel said.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition