Dunbar buys Cabot Business Center in Phoenix

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.

POSTED: . TAGS: , , , , , ,

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.