Commercial Properties Incorporated (CPI) announces the sale of a 32,674 square foot medical office building in Phase 1 of the Greenfield Medical Dental Center in Gilbert, Arizona. Chad Merwin of Commercial Properties Incorporated represented the buyer, Gilbert Medical 2012 LP. “This was a unique deal on a very well-stabilized medical building that was 95% occupied,” said Merwin. According to Chad, this is the first purchase this investor has made in the Valley, and will be looking for more opportunities in Arizona soon. Rick Ridberg and his team at Sperry Van represented the seller of the building located at 2550 East Guadalupe Road.
The building closed escrow for $7.4 million.
CPI is a CORFAC International affiliate, full-service brokerage and property management firm for all product types. Headquartered in Tempe, the company has over 50 brokers and occupies two offices locally. Currently, CPI’s listings include more than 55.5 million square feet for sale/lease, and over 100 projects under property management, approaching 4.5 million square feet. Please visit our web site at www.cpiaz.com.