Keirland II Acquisiton Signals Big Investment Year
California-based LBA Realty acquired the 237k SF Keirland II at 16260 N 71 for $49M from Prudential Insurance. CBRE's Jim Fijan tells us that the sale kicks off what he believes will be a solid year for the investment market in Phoenix. Both buyers and sellers, he notes, are looking to capitalize on improved fundamentals. Jim and his colleague Will Mast negotiated the sale of the property, which is about 80% occupied.