Commercial Transactions

Tue, 03/08/2011 - 00:00 -- Jeff

Mesa - Alexandra Holdings LLC in Mesa (Michael Slayton, principal) paid just under $4.083 million ($73.29 per foot) to buy a 55,704-square-foot office-warehouse complex located at 33, 49 and 65 S. Sycamore in Mesa. The seller was a company formed by Randy Stolworthy of RRS & Co. in Phoenix. The deal was brokered by John Pompay of Grubb & EllisBRE Commercial in Phoenix. The three-building project, called Sycamore Plaza, is 87 percent occupied. Guided Therapy Systems, a company owned by Slayton, is a tenant in a 17,452-square-foot building at 33 S. Sycamore. The rest of the development is comprised of a 17,203-square-foot structure at 49 S. Sycamore and a 21,049-square-foot building at 65 S. Sycamore. In June 1998, BREW reported Stolworthy paying $2.35 million ($42.19 per foot) to acquire Sycamore Plaza. Over the years, BREW has reported Stolworthy buying, developing and selling numerous office and industrial properties in the Phoenix area. RRS & Co. is looking for additional development and investment opportunities in the Valley.