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Office Building In North Phoenix Sells for $2.8 Mil

PHOENIX-An office building along a popular commute parkways has been purchased by a local investor for $2.8 million.

By D.J. Burrough | Updated on December 11, 2000

PHOENIX-A local investor has purchased an office building in north Phoenix for $2.8 million.

Michael House LLC purchased the 1500 E. Bethany Home Road Office Building, a 26,500-sf office project at 1500 E. Bethany Home Rd. The project is less than a half mile from the Squaw Peak Parkway.

The office market continues to tighten throughout the Valley. The overall vacancy rate at the start of the fourth quarter was 9.7%, according to a study by CB Richard Ellis.

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