Menlo Group completed the sale of a 28,834 sq. ft. Phoenix medical and office building.
Tempe, AZ, March 24, 2020–Menlo Group Commercial Real Estate has announced the sale of the McDowell Professional Plaza. The 28,834 sq. ft., multi-tenant medical and office building sold for $3.1 million.
The McDowell Professional Plaza
is located at 1301 E. McDowell Rd. in Phoenix, immediately adjacent to
Banner-University Medical Center, the largest hospital in Arizona. The property
is also located within an opportunity zone.
The building is situated on 1.22
acres of land and includes a 3-story parking structure. The building was 42
percent occupied at the time of the sale.
The seller, SWA Holdings Arizona,
LLC, purchased the two-story property in 2006. The seller recently enlisted
Menlo Group advisors Steve Berghoff, CCIM, and Stuart Milne, CCIM, to broker
“My partner and I like doing
business with Menlo Group,” said Zack Saliba of SWA Holdings Arizona. “We find
Stuart and Steve to be highly professional and capable, and they bring
1301 E. McDowell, LLC, purchased
the property as part of a 1031 exchange. The buyer was self-represented on the
“We’re pleased to see this
off-market sale come to a successful close,” Berghoff said. “We appreciate the
trust the owners have put in our team.”
About Menlo Group
Menlo Group Commercial Real Estate is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services and real estate consulting. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. Please check out our press releases to learn more about our notable transactions and contact our team if you are interested in leasing, selling or buying office property.