Cassidy Turley announced the sale of One Agave Center, a 20,818 SF, Class-A office project at 8950 S. 52nd St. in Phoenix. A company formed by Houston-based Griffin Partners purchased the property for $9.8M ($128.06/psf) from locally based One Agave LLC. Cassidy Turley Executive Managing Director Eric Wichterman, Senior Vice President Mike Coover, Executive Managing Director Mike Beall and Vice President Chris Walker negotiated the transaction on behalf of the buyer and seller.
“With the upgrades planned by its new ownership, One Agave will easily maintain its status as the only true Class A office building in the immediate trade area,” Mr. Wichterman said.
Built in 2001, Agave Center is a four-story, multi-tenant office building. The property was 60% occupied at the time of sale.