Commercial Transactions

Mon, 02/28/2011 - 00:00 -- Jeff

Phoenix - Christopher R. Wood, P.C. in Fountain Hills (Christopher Wood, principal) paid $1.043 million ($175 per foot) to purchase a 5,960-square-foot shell office building located at 4550 E. Bell Road in Phoenix. The seller was a company formed by Randy Stolworthy of RRS & Co. in Phoenix. The sale was brokered by Phil Breidenbach, Peter Nieman and Lindsey Carlson of Colliers International in Phoenix, and Megan Sherwood of Plaza Del Rio Management in Peoria. Sources say the buyer will use a portion of the office space to house a chiropractic clinic. Wood has resold a portion of the space for $458,211 to a company formed by investors Ashok Garg and Shipra Garg in Paradise Valley. The Gargs will house a medical practice in their portion of the office. The structure is within the 45th Place office project (see related story P. 8).