Darren Tappen, Senior Vice President, Aric Adams, Vice President, and Mike Kasulaitis, Vice President of Voit Real Estate Services’ Phoenix office successfully directed the $9.275 million sale of a 109,684 square-foot industrial warehouse in Phoenix, on behalf of the buyer, Dunbar CBC, LLC, an affiliate of El Segundo, California-based Dunbar Real Estate Investment Management. The buyer, Dunbar CBC, LLC, will use this property as an addition to their investment portfolio, according to Adams.
“Cabot Business Center is an excellent addition to Dunbar’s growing portfolio in Metro Phoenix and fulfills many of Dunbar’s investment requirements,” commented Adams. “This asset is in a superior location with a great mix of quality corporate tenants and has great potential for rental growth. Dunbar’s ability to act on this purchase in the short time frame allotted is a testament to their strength as a buyer.”
“Additionally, the opportunity to purchase a landmark location within Southbank that has a history of success was appealing,” according to Kasulaitis.
Dunbar plans to immediately commence capital upgrades to the interior and exterior of the project.
The property is located at 3802, 3822, 3844, 3902 & 3922 E. University Dr. in Phoenix.