CBRE negotiated the sale of a 16,632 SF building at Glendale Corporate Center, a Class A office park north of the NEC of 99th Ave. and Camelback Rd. in Glendale.
The building is 100% occupied by the United States Marshals Service.
Barry Gabel, Mindy Korth and Ashley Brooks of CBRE’s Phoenix office represented the seller, HR GCC LLC, an entity controlled and managed by Los Angeles-based Regent Properties. The buyer was Glendale GSA LLC, an entity controlled by Titanium Real Estate Advisors in Chicago. The purchase price was not disclosed.
“This was the perfect match between buyer and seller,” Gabel said. “The seller originally purchased the building as part of a vacant three-building campus acquisition and successfully leased the building for 10 years to a tenant that the buyer is very familiar with. In fact, the buyer specializes in GSA properties, and this purchase marks their fourth GSA-leased asset acquisition in Arizona.”
Located at 5365 N. 99th Ave., the single-tenant office building sits in an amenity-rich area, minutes from Jobing.com Arena and the University of Phoenix Stadium, as well as numerous shops, restaurants and hotels. Its close proximity to the Loop 101 freeway offers easy access to many parts of the Valley via its connected highway system.