VIZZDA—December 19th, 2012 — Chicago-based industrial and office developer, Clarius Partners, has completed the sale of a
90,300-ft2 medical office building at the Southeast corner of 3rd
Street and Earll Road for $23,781,541 or $263.36 per square foot. Tim Schenk of
Cole Capital paid cash for the property to be occupied by Cigna Medical Group
beginning in 2013.
The 3-story building was completed in the fourth quarter of
2012 and sits on 6.9 acres, zoned R-5. The property was designed to attain an
USGBC LEED Silver designation. The adjacent 1.37 acres of vacant land is
retained by Clarius Partners with reciprocal easements for development between
the buyer and seller. All property information per developer.
Clarius Partners, through its principals H. Steven Duncan
and Kevin Matzke, acquired the site on August 17th, 2011 for $8.04m
following the demolition of Mountain Bell Plaza—the former headquarters of
Qwest in Arizona. They paid $504,321 in cash and secured $18.15m in new
construction debt with PrivateBank and Trust, maturing August 13th,
2013.
By:
Paul Dionne
Director of Analytics
Vizzda.com
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