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Thursday, November 20, 2008 Office
Bourn Partners, LLC has acquired the Williams Centre Technology Campus in Tucson, Ariz., for $37.67 million from New York City-based 5401 Williams Owner, LLC. Mindy Korth, Barry Gabel and Mark Dancer of CB Richard Ellis' Phoenix office represented the seller in the transaction. The campus consists of four two-story office buildings located at 5401, 5421, 5431 and 5451 Williams Blvd. The buildings were constructed between 1999 and 2001 and contain 196,179 square feet. The buildings, which are 93 percent occupied, are home to FedEx, Receivable Management Services Corporation, IFS Systems and America Online, which occupies 100,000 square feet of the properties. Bourn Partners is the original developer of the portfolio and sold it to the New York investment group in 2002 for $30.6 million. 5401 Williams sold the building in order to focus on its East Coast holdings. Korth is an executive VP with CBRE, formerly Trammell Crow, and has been with the company since 1984. She was an NAIOP Investment Broker of the Year in 2003. Gabel is an executive VP with CBRE and has been with the company since 1995. He is a former employee of PrimeWest and is now an investment specialist. He was also an NAIOP Investment Broker of the Year in 2003. Dancer is currently a senior associate with CBRE. He supports the Korth/Gabel brokerage team with market analysis and coordinating due diligence. He is the former director of research for Trammell Crow Company and Insignia/ESG in Phoenix. Address: 5401, 5421, 5431 and 5451 E. Williams Blvd., Tucson, Ariz. Size: 196,179 square feet Built: 1999-2001 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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