Metrocenter Business Park, in Phoenix, AZ -Purchased for $17.6M in 2007–Sells in 2012 for $3.15M

Metrocenter Business Park–Purchased for $17.6M in 2007–Sells in 2012 for $3.15M VIZZDA–September 3rd, 2012 — Houston-based Boxer Property acquired the Metrocenter Business Park for $3.15M of $24.58 per square foot. Boxer financed the purchase with an existing $464M credit line with Beal Bank, originated December 21st, 2009 and maturing June 30th, 2019. The bank-owned building was sold by C-III Asset Management as special servicer for JPMorgan Chase CMBS following an eight months as a bank-owned asset.

Located at 10000 N. 31st Ave in Phoenix near the Metrocenter Mall–West of the Southwest corner of Peoria Ave & I-17–Metrocenter Business Park totals 128,177 SF. The four building office complex consists of two 1-story, one 3-story and one 4-story buildings; all built in 1982 on 8.85 acres zoned C-2.

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