Fenway Properties sells Arizona DCS office
DTZ, a global leader in commercial real estate services, announced the sale of the Arizona DCS Office, 3310 and 3320 N. 19th Avenue in Phoenix. TH Stratman of Queen Creek, AZ, purchased the ± 27,689 square foot single-tenant office building for $3.15 million ($113.76 PSF) with an 8.53% cap rate.
Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover of DTZ’s Phoenix office represented the sellers, Fenway Properties of San Diego.
The two-story office building is fully leased to the Arizona Department of Child Safety (DCS) through December 31, 2021. Built in 1983, the building underwent remodeling in 2011 and 2014, including extensive interior renovations to the first floor completed by DCS, which has over 90 employees working in the property.