Surprise Office Center Sells For $10,441,059

VIZZDA – October 10, 2010 – Samir Sawhney, president of Paramount Group of Companies, has acquired Surprise Office Center at 14239 W Bell Rd for $10,441,059 or $190.77 per square foot with $2,941,059 down and $7.5M debt with Cantor Commercial Real Estate Lending from seller Michael Ibe, president of Western Devcon.

This two story office totals 54,731 SF and was built in 2005 on 4.35 acres. The office has a parking ratio of 5 spaces per 1,000 SF of office space. This class A office features a tenant mix of medical, legal and real estate professionals.

Western Devcon acquired the property as a much larger parcel of land only from the City of Surprise on April 28, 2000 for an undisclosed sum.

Edward Moore

Director of Research

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