Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of 4522-4530 N 7th Street in Downtown Phoenix, Arizona. Brandon Koplin of CPI’s Tempe Office Group represented the Buyer, Canal and Seventh, LLC.
The ±12,613 SF, fully leased building was built in 1965 and is located just south of Camelback Road in the College Vista Subdivision adjacent to the Grand Canal. Brandon Koplin commented, “The buyer was motivated by the existing income on the property, excellent street frontage and future development potential on the 7th Street corridor.”
The new owner, Canal and Seventh, LLC purchased the multi-tenant property, which closed at a value of $1.35 million.
Just over a few blocks in the Camelback Corridor, Brandon Koplin also represented both sides of a Office Plaza deal at 4641-4645 N 12th Street in Phoenix.
The ±14,903 SF Class B, office plaza was built in 1982 and is just south of Camelback Road on the corner of 12th Street and Highland Avenue. Brandon Koplin stated, “12th Street Office Plaza sold to an owner/user, Arizona, LLC, in a quick 14 day escrow. The property is being updated cosmetically and 1/3 of the plaza will be available for lease.”
The new owner/user, Arizona, LLC purchased the multi-tenant office plaza from the Gould Living Trust, which closed at value of $750,000.