Commercial Properties Inc./CORFAC International (CPI), Arizona’s largest locally-owned commercial real estate brokerage, announced the sale of Black Canyon Commerce Park in Phoenix, Arizona. The ±56,042 SF multi-tenant office building is located on the southeast corner of the signalized intersection at Peoria and 23rd Avenues at 2225 West Peoria Avenue. The property is conveniently situated off I-17 with easy drive times to Loop 101 Freeway.
Bob Deininger at Commercial Properties Incorporated represented the Buyer, North Mountain Professional Plaza, LLC. The ±56,042 SF office building sold for $5,600,000/$99.92 PSF.
Deininger commented, “This was a value-added multi-tenant investment opportunity is positioned right across the freeway from Metro Center Mall; an 80-acre site being transformed into a multi-use project with approximately 3,100 multi-family units, 100,000 square feet of retail, along with two hotels offering tenants at Black Canyon Commerce Park access to a wide array of lifestyle amenities nearby, while only being 15 minutes from the Taiwan Semiconductor Manufacturing Company plant. It’s exciting to see this whole area of the Valley evolving to meet demand.” The Commercial Properties Incorporated Team of Bob Deininger and Ken Elmer has retained the lease listing of Black Canyon Commerce Park.