9/3/2008

Koll/PER inks $10.15M deal for Arizona office property

by Eric Ramsden

1045 N. Fiesta Blvd.

Koll/PER, an LLC owned by Newport Beach, Calif.-based The Koll Co. and the Public Employee Retirement System of Idaho, has acquired a 73,283-square-foot R&D building in Gilbert, Ariz., for $10.15 million from Phoenix-based Hewson Development.

Koll/PER was self-represented in the deal while Joe Porter, Pat Feeney and Danny Calihan of CB Richard Ellis.

The single-story building is located within the FIesta Tech Center at 1045 N. Fiesta Blvd. It is situated on 5.2 acres and is entirely leased by General Dynamics Advanced Information Systems. Hewson built the building in 1998 in conjunction with Guardian Life Insurance Co.

Porter is a senior VP with CBRE and specializes in advising investors in the acquisition and disposition of properties. He has sold more than 49 million square feet of distribution, multi-tenant, general industrial and flex space.

Feeney, also a senior VP, has been with CBRE since 1985. Prior to joining the firm, he worked in photography for seven years and then sold his business in order to enter the restaurant business. Calihan has been a partner with Porter and Feeney since 1996 and specializes in industrial and office flex/lease negotiations and building and land sales.

Address: 1045 N. Fiesta Blvd., Gilbert, Ariz.

Size: 73,283 square feet

Built: 1998

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Filed Under: Industrial

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