CORFAC News

Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of over 61,800 square feet of investment deals located in Mesa, AZ. 

Brokers Andy Jaffe and Rex Griswold represented the seller in the recently closed 3450 and 3519 N. Higley Road, an 18,946 square foot office property built in 2005. Brandon Koplin of Commercial Properties represented the 1031 buyer, CRE Strategic Investment. Koplin commented, “My buyer was seeking a quick close scenario and this 100 percent leased opportunity was exactly what he was seeking in our market.”  Griswold commented, “The owner worked efficiently to meet the time table for the 1031 buyer and was engaged proactively to help close the deal.” CRE Strategic Investment acquired the property for $2.25 million.

In a separate transaction on the Northeast corner of Main & Horne, Andy Jaffe and Rex Griswold represented the buyer, Outlaw 5, LLC., in the purchase of a 23,427 square foot retail property at 819 E Main Street in Mesa, AZ. Jaffe commented, “This was a unique opportunity to help a client take an iconic bowling alley built in 1961 in Mesa and make it useful once more by converting it into a specialty auto parts store.” Outlaw 5, LLC acquired the property for $900,000.

In a third transaction at Greenfield and Higley Roads, Seth Properties, LLC, purchased a medical office condominium at 4838 E. Baseline Road in the Commons at Pierpont in Mesa. Andy Jaffe and Rex Griswold represented the seller of the 19,455-sf former heart surgery center. Jaffe commented, “The fully built out surgery complex was equipped with 4 conference rooms, 30 offices, imaging and x-ray facilities with lead lined walls and 480 volt power. The whole complex was purchased by doctors, whose intention is for it to be divided into five different doctors’ offices.”

Learn more about Commercial Properties/CORFAC International at www.cpiaz.com.