Closed transaction on OREO Property – March 24, 2010

Nicholas L Miner, CCIM and David G Verwer, CCIM recently represented the seller, Central Arizona Bank, in the sell of a 4,000 Sq. Ft. industrial-flex condo near Falcon Field in Mesa, Arizona. “The interesting part of the transaction was the fact that the buyer was the original developer. He purchased the property back at what it originally cost him to build it,” according to Miner. The buyer, The Reeb Group, was represented by Cassidy Turley Commercial.