Phoenix – A company formed Orsett Properties Ltd. in Phoenix (Curt Feuer, pres.) paid $12.1 million ($44.27 per foot) to buy a 273,349-square-foot vacant office project east of Phoenix Sky Harbor International Airport and just north of Interstate 10 and west of the Hohokam Expressway (State Route 143) in Phoenix. The seller was WBCMT 2006-C23 Elwood Office LLC, a CMBS (commercial mortgage backed security). The special servicer for the seller was LNR Partners LLC in Miami Beach, Fla. The buyer was represented through Eric Wichterman and Mike Coover of Cassidy Turley in Phoenix. The seller was represented through Charles Miscio and Danny Plapp of Colliers International in Phoenix. The project, called Sky Harbor Towers, is comprised of a 7-story, 116,574-square-foot building at 4605 E. Elwood Street, a 4-story, 85,775-square-foot structure at 4615 E. Elwood and a 3-story, 71,000-square-foot building located at 4635 E. Elwood. Continue reading
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