Stolworthy Picks Up 140,000 SQ. FT. of Office-Warehouse-Retail Space in Four Properties

Mon, 01/10/2011 - 00:00 -- Jeff

Phoenix/Mesa - - Companies formed by Randy Stolworthy of R.R. Stolworthy Inc. in Phoenix paid a combined $8.125 million to purchase four commercial properties in Phoenix and Mesa totaling almost 140,000 sq. ft. Viad Corp. Fund in Phoenix was the seller of two office-warehouse structures, with each property selling for $2.5 million. One of the structures, totaling 31,581 sq. ft., is located at 510 E. University Drive in Phoenix. The other building, 31,460 sq. ft., is located at 2250 S. Seventh Street in Phoenix. Steve Lindley, Bob Buckley and Tracy Cartledge of Core/Jackson in Phoenix brokered those sales. The buildings are reported to be fully leased. Stolworthy paid $2.35 million to acquire a 55,668-square-foot multi-tenant office-warehouse at 33 S. Sycamore in Mesa. The seller was a company formed by investor Gary Rose in Phoenix. That property, called Sycamore Plaza, is 97 percent occupied. The Core/Jackson agents also negotiated that sale. Finally, Stolworthy paid $775,000 to buy a 20,603-square-foot office-retail property located at 2001 W. Peoria Avenue in Phoenix. The seller was Tibshraeny Cos. Inc. in Mesa (Mike Tibshraeny, principal). The property is reported to be 100 percent leased. Bob Broyles, Tom Semancik and Mark Hertzberg of Colliers International in Phoenix assisted with that transaction. Stolworthy is managing all of the buildings. In January, BREW reported Stolworthy paying $4 million to purchase a 162,960-square-foot multi-tenant warehouse property located at 2915 E. Washington Street in Phoenix. Learn more from Stolworthy by calling (602) 553-0082. Phone number at Viad is (602) 207-4000. Talk to the Core/Jackson agents at (602) 954-8600.