G2 Capital Buys Two-Building Office Asset in Phoenix for $10.9M
PHOENIX — G2 Capital has acquired an office property, located at 3925-3945 E. Broadway Road in Phoenix, for $10.9 million. The seller was Glasir Capital Partners, which purchased the property 30 days prior from RBR Capital.
Totaling 136,000 square feet, the asset is a pair of two-story office buildings at the intersection of 40th Street and Broadway Road. The property at 3945 E. Broadway Road is fully occupied by a long-term credit tenant, which has been in place since 2001. The other building is 50 percent leased to the State of Arizona, which has been a tenant since 2016.
G2 Capital plans to renovate a 37,000-square-foot speculative suite to be move-in ready by January at the property.
Brian Ackerman of JLL represented the buyer in the deal. G2 Capital has retained Karsten Peterson, Dave Seegar and Mark Gustin of JLL to handle leasing for the property.