CBRE arranges $19.7 million sale of Thunderbird 101 Office Park in Peoria

CBRE has arranged the $19.7 million sale of Thunderbird 101, a 143,597-square-foot, two-building office park at 14050 and 14100 North 83rd Avenue in Peoria, Arizona. The buyer group included Holualoa Companies and David Walter of DWRE.

CBRE’s Geoffrey Turbow and Anthony DeLorenzo represented the seller. CBRE identified the buyer group and worked with the parties to assemble equity and debt through closing.

“Thunderbird 101 offered an opportunity for a buyer to acquire a well-located office property with a diverse suite mix to reintroduce to the market,” said Geoff Turbow, senior vice president at CBRE. “After identifying the buyer group, we worked with the parties to move the transaction through closing.”

Completed in 2005, Thunderbird 101 consists of two two-story, multi-tenant office buildings on 10.9 acres. The property includes 718 parking spaces and offers a range of suite sizes for health care, financial services, real estate and other professional services users.

CBRE’s Property Management will manage the property, and CBRE’s Ashley Brooks and Jasmina Bays will lead leasing efforts on the park.

“With new ownership and capital in place, the focus now shifts to leasing and operations,” added Turbow. “Our Property Management and leasing team will work together to enhance the tenant experience, support leasing activity and position the property competitively in the West Valley.”

Thunderbird 101 is near Loop 101, West Thunderbird Road and North 83rd Avenue, with access to Arizona State University’s West Valley campus, State Farm Stadium and retail and dining amenities throughout the Arrowhead area.