In the News
August 25, 2017
Canadian group spends $11M near Sky Harbor airport for first Arizona buy
Phoenix Business Journal
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Nicola Wealth Management Ltd. paid $11.4 million for the Cabot Business Center in Phoenix just south of Phoenix Sky Harbor International Airport.
Nicola buys and manages properties for Spire Real Estate Portfolios. It is Spire's first purchase in the Arizona commercial real estate market.
Darren Tappen, Peter Beauchamp, Aric Adams, and Mike Kasulaitiswith Kidder Mathews represented the seller Dunbar CBC LLC. That is an arm of Los Angeles-based Dunbar Real Estate Investment Management.
The Cabot center is a five-story, 109,805-square-foot industrial and flex building. It is at 3802-3922 E. University Drive in Phoenix.
"Cabot Business Center is an ideal asset for Nicola Crosby's first purchase in Phoenix," said Tappen. "The central location, freeway access, quality of the project, and occupancy level bodes well for the new ownership. They are looking for similar opportunities as they look to become a key player in the Phoenix market," he said.
Nicola Crosby has retained Kidder Mathews as the new property managers for Cabot Business Center.
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