Commercial Transactions

Wed, 02/16/2011 - 00:00 -- Jeff

Phoenix - The American Cancer Society of Seattle, Wash. paid just over $5.34 million ($185 per foot) to acquire a 29,050-square-foot shell office building located at 4550 E. Bell Road in Phoenix. The seller was a company formed by investor Randy Stolworthy of RRS & Co. in Phoenix. The transaction was brokered through Phil Breidenbach, Peter Nieman and Lindsey Carlson of Colliers International in Phoenix, Megan Sherwood of Plaza Del Rio Management in Peoria and Trevor Klinkhamer of Grubb & EllisBRE Commercial in Phoenix. The American Cancer Society, a non-profit organization, intends to use the property for its Phoenix headquarters. The non-profit will be relocating from its current Valley offices at 2929 E. Thomas Road in Phoenix. The newly-acquired Bell Road structure is within the 45th Place office project. That nine-building, 104,210-square-foot complex, was developed by RRS & Co. All of that space has either been sold or is under contract (see related story below).