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Landmark Phoenix Office Trades for $17M
The Fordham office complex in Phoenix traded hands for $16.75 million. The buyer was Corona, CA-based PE, LLC, while the seller was 1440 Missouri Partners, LP, an entity controlled by Phoenix-based Jevan Capital.
The asset consists of two multi-tenant office buildings totaling 90,688 square feet. The complex is at 1430 and 1440 E. Missouri Ave. and was 92% leased to a variety of office users.
Cushman & Wakefield’s Eric Wichterman and Mike Coover handled the transaction on behalf of the seller.
Wichterman says, “This is a superb garden-style office complex located in a prime infill hot-spot of Phoenix. Originally developed in the 1980s, The Fordham’s unique and classic architecture has earned it ‘landmark’ status. The seller also completed an extensive and tasteful multi-million-dollar interior/exterior renovation in 2018 that included new tenant improvements invested in over two-thirds of the project’s suites.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition