The Meritex Co Acquires North Mountain Corporate Center Office In Phoenix For $7.2M

The transaction involves a vacant Class B office building located at 10400 North 25th Avenue, Phoenix, AZ, occupying 7.6 acres. The sale price for this property was $7,200,000, with a total square footage of 109,332, resulting in a price per square foot of $66.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $7,200,000
• Address: 10400 North 25th Avenue
• Market: Phoenix, AZ
• Asset Size: 7.6 acres
• Total Square Footage: 109,332
• Price Per Square Foot: $66
• Buyer: The Meritex Co
• Seller: Macfarlan Capital Partners
• Brokers: Brian Ackerman, Todd Noel, Kyle Campbell & Matt Baniszewski - Newmark

The Meritex Co. has acquired the North Mountain Corporate Center with plans to redevelop the property into an institutional-quality industrial project, indicating a strategic move into industrial real estate in the Phoenix market.