GPE closes deal on Scottsdale medical office building

GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 5,274 SF one-story medical office building located at 7700 East Indian School Road in Scottsdale. The building sold for $975,000 ($185/SF).

Executive Vice President, Julie A. Johnson, CCIM, and Senior Vice President, Alexandra Loye worked on behalf of the seller, 7700 Medical, LLC.. Executive Vice President, Nicholas A. Pelusio, and Senior Vice President, Kevin Helland, worked on behalf of the buyer, Diamondback Commons II, LLC, whom intend to occupy the property for administrative use.

Asked why the buyer acquired the building, Kevin Helland stated: “The building was purchased to permit Diamondback Drugs, a locally-based, rapidly growing veterinary compounding pharmacy; to expand its footprint in the Old Town Scottsdale sub-market.”

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