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September 8, 2005

ScanlanKemperBard

A joint venture of Portland-based ScanlanKemperBard and The Praedium Group of New York bought the 440,600-square-foot Phoenix Corporate Center for $49 million from Transwestern Investment Services. The eight-building project on 33 acres is nearly 79 percent leased. The acquisition includes land for another building. The price equals $113 per square foot. Phoenix's average office sales price is $172, according to ScanlanKemperBard. The city has approved funding for a light rail line with a stop next to the property. The Palmer Team brokered the deal. Transwestern Commercial Services will manage and lease the property.




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