Colliers International in Greater Phoenix has recently completed the sale of a Class B office building in Phoenix for $950,000, or $79.40 a square foot.
Phoenix-based John F. Long Properties LLP purchased the building, located at 1118 E. Missouri Ave., from Gillman, Kawecki, McCluskey and Windes Investment Partnership of Phoenix.
Peter Nieman, an executive vice president, Kathy Foster, a senior vice president, and Marcus Muirhead, an associate vice president, all of Colliers International; served as the brokers for the seller.
Nieman and Foster are members of Colliers International’s Office Properties Solutions Group. The team has a diverse base of knowledge and expertise that leads to successful and tailored real estate solutions. Muirhead specializes in office and retail investment properties in the Phoenix area.
Thomas Jacobs of Cassidy Turley served as the broker for the buyer.
The building, encompassing 11,964 square feet, was constructed in 1975.
“The seller occupied and maintained the property, taking exceptional care of it. The building attracted much interest since there is a shortage of owner-user locations that have been well-maintained in that submarket,” Foster said.