Scottsdale, Arizona -- Ross Brown Partners, a privately owned local commercial real estate brokerage and management company, completed the sale of 8454 N. 90th St. The fully leased, 21,400-square-foot office building was sold by CQR Holdings, LLC and purchased by JB Holdings, LLC, which are both based in Arizona. The transaction was handled by Shawn Dooley and Kyle McGinley of Ross Brown.
Safeguard Security, which was recently acquired by AAA Home Smart, is the sole tenant in the building.
"We had considerable buyer activity during the marketing of this asset, with the majority being 1031 requirements,” said Shawn Dooley, associate with Ross Brown Partners. “This asset lined up exceptionally well with individual private capital due in large part to the quality of the tenant, ease of management and passive income."
Pima Center is a 232-acre, mixed-use business and lifestyle park located at the intersection of the Loop 101 freeway at Pima/90th Street and Via de Ventura. Developed by MainSpring Capital Group, the park has more than 1.7 million-square-feet of completed buildings and is home to companies such as Plexus Worldwide, First American Title, Nationwide Insurance, iMemories, HonorHealth, Nant Energy, Renaissance Companies and many others. Ross Brown Partners has been successfully leasing, selling, and managing commercial real estate in the Phoenix MSA since 1990.