BPM Real Estate Group Purchases PetSmart Corporate Headquarters in Phoenix for $110M
PHOENIX — Portland, Ore.-based BPM Real Estate Group has acquired PetSmart’s corporate headquarters in Phoenix from an undisclosed institutional seller for $110 million.
Barry Gabel, Chris Marchildon and Will Mast of CBRE, along with Kevin Shannon, Ken White and CJ Osbrink of Newmark, represented the seller, while Newmark’s Nick Kucha represented the buyer in the deal. David Milestone and Ramsey Daya of Newmark arranged acquisition financing for the buyer.
Located at 19601 N. 27th Ave. in Phoenix’s Deer Valley submarket, PetSmart’s corporate headquarters features 365,672 square feet. The property includes three four-story buildings, one of which was built in 1997 and two in 2008, as well as a six-level parking structure. On-site amenities include a recently renovated full-service café, a daycare center and a fitness center with full-service locker rooms. The 15.1-acre site allows for the development of a 90,000-square-foot building and parking structure.