Phoenix, Ariz (February 28, 2024) —
Source From: https://realestatedaily-news.com/
Commercial Properties, Inc./CORFAC International (CPI)
Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally-owned commercial real estate brokerage, successfully completed the sale of Building F in Venture Court Professional Plaza, Anthem, Arizona. This two-story office building, covering ±27,223 SF, is located at 41810 N Venture Drive.
Its excellent position off I-17 and Anthem Way provides high visibility from the freeway. Additionally, being just six miles from the new TSMC semiconductor manufacturing plant in Phoenix, the building is strategically placed in a rapidly developing business hub.
Key Transaction Details
Eric Butler and Phill Tomlinson of CPI represented Liftable Media, Inc., the seller of the property. Meanwhile, Keith Lammersen from JLL represented the buyer, Maricopa County Libraries. The transaction, valued at $9 million, equated to $330.60 per square foot.
This successful sale benefits the buyer as they plan to transform the property into a new home for Maricopa County Libraries, which will serve the local community.
Resolving Legal Challenges
North Valley Regional Library was previously located on the Boulder Creek High School campus, where it shared space with students and the public. However, moving to Building F required amendments to the development’s Covenants, Conditions, and Restrictions (CC&Rs). Eric Butler and the CPI team stepped in to assist Maricopa County Libraries with this legal process.
Butler said, “We helped the library navigate the necessary changes to the CC&Rs, ensuring the move could proceed. It was a smooth process, and both parties were happy with the results.” By staying actively involved throughout the sale, CPI successfully addressed all legal obstacles.
CPI’s Commitment to Excellence
CPI’s involvement in this transaction reflects their dedication to providing exceptional service to their clients. Their ability to handle legal complexities and facilitate a smooth transaction demonstrates their commitment to achieving client satisfaction. Moreover, this sale contributes to the continued growth of Anthem’s business community, further enhancing the area’s development.
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Meet The LeveragedCRE Investment Team
Phill Tomlinson and Eric Butler are seasoned commercial real estate brokers with over 44 years of combined experience. They lead the LeveragedCRE Investment Team at Commercial Properties, Inc. (CPI) in Scottsdale, Arizona, specializing in investment sales and tenant/landlord representation across the Phoenix and Scottsdale submarkets.
The team leverages their extensive knowledge and expertise to help investors and property owners maximize their returns and navigate complex real estate transactions with confidence.
Stay informed with the latest in Commercial Real Estate strategies designed to enhance your income property investment results by bookmarking www.leveragedcre.com Let us help you stay ahead in the market!