Cassidy Turley announced Thursday that it sold North Mountain Professional Plaza, a ±9,850 SF multi-tenant office project at 1850 E. Thunderbird Rd. in Phoenix. LDP Associates (Phoenix) purchased the property for $1.325M ($134.52/psf) from North Mountain Professional Plaza, LLC. Executive Managing Director Eric Wichterman, and Senior Vice Presidents Mike Coover and Andy Cloud with Cassidy Turley negotiated the transaction on behalf of the seller.
According to Eric Wichterman, “North Mountain Professional Plaza was an excellent opportunity for an owner/user buyer to purchase a highly attractive office building with excess land.”
Built in 2001, North Mountain Professional Plaza is a single-story building designed to accommodate one or two tenants. The building has fronts on Thunderbird Road, just two miles west of SR-51.
Update: Sheila Bale, Managing Director and Ryan O’Connor, Associate at Newmark Grubb Knight Frank represented the Buyer SAPO Properties, LLC. (January 10, 2014)