Cushman & Wakefield announced that Talavi Spectrum, located at 5701 W. Talavi Boulevard in Glendale, Ariz., was sold to Dunbar Real Estate Holdings of El Segundo, Calif. for $9.575 million. The seller was advised by New York-based Zurich Alternative Asset Management.
Tracy Cartledge, Bob Buckley, Steve Lindley and Michael Kitlica of Cushman & Wakefield negotiated the transaction on behalf of both the buyer and seller.
Talavi Spectrum is a two-story, 74,662-square-foot, multi-tenant office building that is currently 65% occupied. Developed in 2002 by The OPUS Group, the Class A property features high-quality construction, functional floor plates, interior improvements and a unique campus-style setting.
“With the addition of Talavi Spectrum, Dunbar has added another strategic asset to their already impressive Phoenix portfolio. Dunbar was drawn to the institutional quality construction, business park location as well as the strong market condition in the Northwest valley,” said Tracy Cartledge.
Situated in the 67-acre Talavi Business Park, Talavi Spectrum is just south of Bell Road – one of the most utilized thoroughfares in Phoenix. Talavi Spectrum is less than two miles from the Loop 101 Freeway and is adjacent to retail amenities such as Talavi Towne Centre, Sprouts Center and Glendale Market Square.