North Phoenix Office Building Flips for $43 Million
Time Equities (TEI) bought the five-story, 268,000 square foot office from Sterling Equities and Lincoln Property Company. Located in Phoenix at 11811 N. Tatum, the project is just outside Paradise Valley, the highest value address in the Phoenix metro area.
Time Equities plans to implement a large-scale redesign of the common areas, as well as introduce new design concepts and amenities to the building. The property’s lobby atrium is one of the largest in the market, and the company plans to make it the centerpiece of its renovation program. Currently, the building has a tenant lounge, conference room, on site deli and cafe and covered parking.
TEI’s Aaron Madeiros and Keaton Baum represented the buyer. CBRE’s Barry Gabel and Chris Marchildon, the sellers.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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