Acquisition of a Scottsdale Medical Plaza

By Champion in : News // Apr 21 2000

MEDICAL OFFICE ON SCOTTSDALE ROAD SOLD IN $5+ MILLION DEAL

Scottsdale — A company formed by investor Ricky Lyons of Champion Partners in Scottsdale paid $5.125 million to purchase a 48,362-square-foot medical office project at 10900 N. Scottsdale Road in Scottsdale. The seller was a company formed by principals of Integrated Property Management in Denver (Loren Snyder and Bruce Deifik). The transaction was brokered by Eric Wichterman and Jeff Hartland of Grubb & Ellis Co. in Phoenix, and Mike Auther and Cam Stanton of CB Richard Ellis in Phoenix. The six-building development is reported to be 91 percent occupied. The single-story project is called Scottsdale Professional Plaza. Leasing to be handled by NAI Horizon in Phoenix. No word on management. Acquisition of the Scottsdale medical plaza is the first purchase for Lyons in the Valley. Sources say Lyons is interested in acquiring additional office buildings in the Phoenix area . . . also looking at industrial and retail properties. Get more from Lyons at (480) 922-9212. Reach Snyder and Deifik at (303) 691-8665. Talk to the Grubb & Ellis agents at (602) 954-9000. Catch Auther and Stanton at (602) 735-5555.

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