Commercial Transactions

Mon, 02/14/2011 - 00:00 -- Jeff

Phoenix - A company formed by investor Gary Zimmerman of Zimmerman Properties in Las Vegas paid $5.1 million ($65.40 per foot) to acquire a 77,887-square-foot office-light industrial project located at 3725 E. Roeser Road, 3740-3758 E. Grove Street and 5225 S. 37th Street in Phoenix. The seller was a company formed by investor Randy Stolworthy of RRS & Co. in Phoenix. The deal was brokered through Rod Crotty of Cutler Commercial in Phoenix. The three-building complex, called Plaza 40, is 80 percent occupied. Over the years, BREW has reported Zimmerman and buying and selling numerous properties in the Valley. Zimmerman is interested in additional real estate investment opportunities in the Phoenix area. Stolworthy, who also has been an active player in the Valley real estate market, is looking for more investment deals.