PHOENIX, June 17, 2019 – Los Angeles-based BH Properties announced today the purchase of Riverpoint – Building 2, a single-story, multi-tenant flex office building. The property located at 3100 E. Broadway in Phoenix was sold by a Nebraska investor, Vatnsdal Investments, LLC, for $5 million.
Eric Wichterman, Mike Coover, Larry Downey and Brett Thompson of Cushman & Wakefield Phoenix brokered both sides of the deal. Wichterman stated, “With the purchase of this recently vacated flex office building, BH Properties is well-positioned to create tremendous value through leasing the property to a single tenant on a long term lease.”
Riverpoint – Building 2, constructed in 2002, offers 61,316 square feet (SF) of available space. Located on the northwest corner of 32nd Street and Broadway Road, just south of Phoenix Sky Harbor International Airport, the property features Broadway Road signage, close proximity to ASU and the airport and easy access to the I-10.
Larry Downey and Brett Thompson will also serve as the exclusive marketing agents for Riverpoint – Building 2. Downey stated, “This is a desirable location with 60,000 SF of vacant contiguous space and an abundance of parking space for future tenants.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.