Commercial Properties Inc./CORFAC International Announces Sale Class A Medical Office Building
Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of 121,632 square feet at 1760 E. Pecos Road in Gilbert, Arizona. Originally built in 2007, the multitenant medical office building is approximately 130,897 square feet and is conveniently situated on 3.90 acres just east of Val Vista Drive at the intersection of Rome Street and Pecos Road.
Rome Towers is a mixed-use development comprised of two signature Class A office towers, a retail shopping center and plaza, an elaborate open-air lobby and an integrated parking structure just one-mile from Mercy Gilbert Medical Center Hospital. Standing five-stories and approximately 85 feet tall, this Gilbert landmark is home to medical practices and other professional businesses.
The Leroy Breinholt Sales & Leasing Team at Commercial Properties Inc. represented the seller, Security Acceptance Services, LLC. Sales & Leasing Associate David Bean worked with the buyer, Woodside Health, represented by Crescendo Commercial Realty out of Ohio. Bean commented, “The property offered Woodside Health a great location with access to multiple freeways, close proximity to the Mercy Gilbert Hospital and was a great medical and professional office investment. The CPI leasing team and I worked with ownership to build up to 73.8% occupancy prior to the sale.”
“We’re very excited to take ownership of Rome Towers and look forward to working with the great tenants that we’ve already started to get to know,” said Joe Greulich, Woodside Health Principal. “This is a great neighborhood and we’re glad to be a part of the area’s growth as we lease up the rest of the building. The prior owners developed a beautiful building and we look forward to finishing the work to create the vibrant medical and professional center they envisioned,” he added.
Woodside Health purchased the property for $26 million/$213.76 per square foot.
About Commercial Properties Inc./CORFAC International
Established in 1981, Commercial Properties Inc. (CPI) is a full-service brokerage and property management firm for all product types of commercial real estate. Headquartered in Tempe, the company has more than 55 brokers and is operating throughout the Phoenix metropolitan area. Currently, CPI’s listings include over 21.6 million square feet for sale/lease with more than 195 projects and associations under management, totaling over 12.8 million square feet. CPI is the Phoenix affiliate of CORFAC International, comprised of privately held brokerage and property management service providers.
