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Gray multi-tenant office building at 3910 S Rural Rd in Tempe, Ariz.
Tempe Multi-Tenant Office Building Sells for $4.125M
May 16, 2022

Dobson Professional Plaza Sells for More Than $3M

Drone photo of Dobson Professional Plaza, a white office building next to a lake
Drone photo of Dobson Professional Plaza, a white office building next to a lake

Menlo Group negotiated the sale of Dobson Professional Plaza, a multi-tenant office building located at 1845 S. Dobson Rd. in Mesa, Ariz.

Tempe, AZ, June, 14, 2022–Menlo Group Commercial Real Estate is pleased to announce the successful sale of Dobson Professional Plaza. The two-story, multi-tenant office building sold for $3,056,250.

Dobson Professional Plaza is located just south of US 60 at 1845 S. Dobson Rd. in Mesa, Ariz. Built in 1983, the property includes nearly 22,000 sq. ft. of office space on 1.86 acres of land situated on Dobson Lake.

Menlo Group first started representing the space in 2018 and helped the owners sign more than 15 leases over the years. At the time of the sale, the office plaza was 94 percent leased with 19 tenants, making it a great value-add opportunity for the new owner.

“Steve and the entire Menlo team navigated the transaction like the professionals they are,” said Mark W. Fowler, the seller. “Everything went according to plan.”

Steve Berghoff, CCIM, SIOR, Senior Vice President at Menlo Group, represented the seller, 1845 South Dobson, LLC. The buyer, Vignes Investment Partners, LLC, was represented by Jamie Swirtz of CBRE. 

“It has been an absolute pleasure to represent this beautiful property, and our team is thrilled at the outcomes we were able to secure for the seller,” Berghoff said. “The Phoenix metropolitan area continues to be a robust, fast-growing market, and we’ve seen that growth attract more and more investors”

About Menlo Group

Menlo Group is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services, real estate consulting, property management and project management. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. Please contact our landlord/seller team to discuss listing your commercial property.

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