Reems and Greenway, LLC of Phoenix (Matthew Widdows, managing member) purchased a 16-unit office condo portfolio located at 15515-15571 N Reems Road in Surprise, AZ for $1.35 million ($56 PSF).
The bank owned property consisted of a mixture of shell and built-out condo units that totaled approximately 24,101 square feet.
“The transaction turned out to be a win-win for both buyer and seller,” said Justin Horwitz of Sperry Van Ness in Phoenix. “This sale put the Offices at Reems back on track to being a vibrant and desirable office condo project in the West Valley.”
The seller, Pacific Western Bank, was represented by Justin Horwitz, Nicole Ridbreg and Neil Sherman of Sperry Van Ness, LLC of Phoenix. Steve Cook of Escee Properties in Phoenix represented the investor.
The Sperry Van Ness Team should be reached at (480) 425-5500. Cook can be contacted at (480) 505-0919.