Midtown Phoenix Office Property Trades for $5.3 Million

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PHOENIX, Arizona – On behalf of Phoenix-based Accelerated Capital Growth LLC, Eric Wichterman and Mike Coover of Cushman & Wakefield have closed the sale of 702 E. Osborn Road in Phoenix. Phoenix-based Boubek Family Trust purchased the property for $5.3 million.

The 35,308-square-foot office property is prominently situated on the northeast corner of 7th Street and Osborn Road in the Midtown submarket of Central Phoenix. Constructed in 1984, the two-story building features secured underground parking, a rare amenity for a building of its size. The majority of the building is currently occupied by a prominent law firm moving to a new location, at which time the buyer will renovate and occupy a large portion.

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