PHOENIX (January 15, 2024) -- Newmark announces it has arranged the sale of Talavi Corporate Center, a prominent three-story office and medical office property situated at 5651 West Talavi Boulevard in Glendale, Arizona.
Encompassing approximately 153,332 square feet on a ±11.4-acre site, the Class A building was 74% leased at the time of sale to five tenants, offering corporate office, back office and medical office functions. The asset sold to Woodside, a Texas-based investment firm, for $9.325 million in an all-cash purchase.
Newmark Executive Managing Directors Barry Gabel, Chris Marchildon and CJ Osbrink represented the seller, Regent Properties. The transaction marks Woodside’s first acquisition in the Arizona market, which intends to upgrade specific suites to speculative condition and enhance other areas to attract new tenants and bring the property to greater stabilization.