Justin Horwitz, Nicole Ridberg and Neil Sherman of Sperry Van Ness, LLC, in Phoenix represented Pacific Western Bank in the sale of the Offices at Reems, a 16-unit office condo portfolio located at 15515-15571 N. Reems Road in Surprise, Ariz.
The bank-owned shell and built-out condo units sold for $1,350,000 or $56 per square foot and closed on August 27. The portfolio is approximately 24,101 SF.
“The transaction turned out to be a win-win for both the buyer and seller,” said Justin Horwitz. “This sale put the Offices at Reems back on track to being a vibrant and desirable office condo project in the West Valley.”
The buyer, Reems and Greenway, LLC, was represented by Steve Cook of Escee Properties.