Lots 1, 3, and 4 of Thistle Landing Office Park sold Tuesday for a total of $51.25 million, or $182 per square foot to Henry D Bullock of local investment group Menlo Equities. The sale was funded by a $40.75 million loan with Bank of America.
The sale comes nearly a year and a half after current sellers Torchlight Investors reclaimed the property at trustee auction for a $34.1 million credit bid. The current saleprice is close to the 2005 price of $51.176 million prior to property’s distress.
These three buildings of Thistle Landing Office Park total just under 282,000 square feet on 28 acres. It is located northwest of the Interstate 10 Chandler Boulevard exit in Phoenix.For more information on this property including complete history and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!