Menlo Group Commercial Real Estate closed nearly 60 sale and lease transactions across the Phoenix metropolitan area during the first quarter of 2022.
Tempe, AZ–May 3, 2022–Menlo Group Commercial Real Estate started the year strong by closing nearly 60 sale and lease transactions in the first quarter of 2022. The properties involved totaled over 400,000 sq. ft. and were located primarily across the Phoenix Valley.
“We are excited that so many of our clients saw successful closes and are steps closer to reaching their commercial real estate goals,” said Menlo Group Designated Broker Grafton Milne, CCIM, SIOR. “We are also incredibly proud of our brokerage team for their hard work and dedication to our clients.”
Here are some of Menlo Group’s deal highlights from Q1 2022:
Lake Biltmore Corporate Center, located at 11022 and 11024 N. 28th Dr. in Phoenix, sold for $11.5 million. The two-building, multi-tenant office property totals 102,000 sq. ft. and was more than 70 percent occupied at the time of the sale, making it an attractive investment and value add opportunity. Stuart Milne, CCIM, SIOR, represented the seller, Gammaville, LLC, during the transaction.
Menlo Group represented the seller and buyer of Gilbert Medical Center, located at 201 W. Guadalupe Rd. in Gilbert, Ariz. The fully leased medical office property is 35,142 sq. ft. and sold for $5.35 million. Steve Berghoff, CCIM, SIOR, and Grafton Milne, CCIM, SIOR, represented the seller, Gilbert AZ Properties, LLC. Rich Andrus, MBA, CCIM, SIOR, represented the buyer, 4901 W Bell Properties, LLC.
Steve Berghoff, CCIM, SIOR, and Tom Ellixson, CCIM, represented Monterrey Tile AZ, LLC, as the company signed a lease at 3232 S. 48th St., Ste. B, in Phoenix. Located at Airport48, the 42,122-sq.-ft. property is currently under construction with plans to be completed later this year.
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. To learn more about our Q1 2022 closed transactions, please check out our recent press releases or follow us on Facebook, Twitter, LinkedIn and Instagram.