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Black Canyon Commerce Center sells for $11.2 million

Washington-based investor purchases fully occupied office building

PHOENIX -  Black Canyon Commerce Center, located at 2102 W. Peoria Avenue, sold for $11.2 million. The Northwest Phoenix office building was sold to a Washington-based investor as part of a 1031 Exchange transaction. 

“This investor was seeking a 1031 Exchange opportunity and is very bullish on the Phoenix market for long-term real estate appreciation,” says Bill Swirtz, vice president with the Investment Services Group at Colliers in Arizona. “The property is 100% occupied by two credit tenants, making the property ideal to meet the buyer’s specific leveraged yield requirements.”

Swirtz represented Evergreen Associates of Everett, Washington in the acquisition negotiations. Eric Wichterman of Cushman & Wakefield represented the seller, Next Gen Black Canyon, LLC of Phoenix. The building is fully occupied by OpenTech Alliance and Convergent Outsourcing.

Black Canyon Commerce Center is a single-level office building with 62,771 square feet that was constructed in 1999. The property features floor-to-ceiling window lines and decorative metal awnings.  Situated on 6.13 acres of land, the building offers frontage and visibility along Peoria Avenue. Black Canyon Commerce Center is located just 15 minutes south of the upcoming TSMC semiconductor plant that is anticipated to open in 2024. The office building is less than a mile from Metrocenter Mall, which is undergoing a $750 million redevelpment. 

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
 
 

 

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Bill Swirtz

Vice President

Phoenix

As a vice president with Colliers International, Bill Swirtz specializes in office, retail, multifamily and industrial properties, and land development, representing tenants, investors and owners in leasing and investment sales. Leveraging more than 35 years in executive leadership and brokerage, he carefully guide clients throughout the process of leasing, buying or selling properties.

Bill fully understands his clients’ needs and develop real estate strategies that align with their financial goals. With a thorough knowledge of market conditions and property fundamentals, he positions properties to increase liquidity and maximize value.

Clients benefit from his multi-market experience in real estate leasing and sales, property development, facilities management, architectural design, construction and project management.

Serving as a trusted advisor and confidant, Bill cultivates long-term client relationships built on mutual trust and respect. Clients and colleagues consider him to be a highly skilled professional, who is loyal, conscientious, steady and adaptable.

As a C-Level deal maker with more than 35 years of experience in high-profile executive leadership and brokerage, Bill has demonstrated success in creating sustainable revenue pipelines, growing market share, and maximizing operating margins and net income. Throughout his career, he has imbued organizations with a value-driven entrepreneurial zeal and bottom-line focus, which he carries through to guide his clients in making strategic real estate decisions.

Prior to joining Colliers, Bill was president of Swirtz Realty Advisors, LLC, focusing on brokerage, tenant services and real estate development in metro Phoenix. He provided real estate brokerage and consulting services to private equity clients, developers, REITs, insurance companies and institutional investors for national fast food company sites, national gas and oil company sites, retail development sites, and land leases.

Previously, Bill served as president and designated broker of Apollo Development Corporation, a wholly owned subsidiary of the Apollo Group, Inc., parent company of The University of Phoenix. As president, he directed site selection, lease administration, design and construction, process integration, and facility management. Bill designed and implemented comprehensive real estate models to align with corporate objectives. He also managed leasing and brokerage services for the parent company and all subsidiaries worldwide.

During his tenure at Apollo, Bill handled cumulative transactions of $1.5 billion in lease value. He generated significant profits on transactions, including a $20 million profit on the 600,000-square-foot Class A Riverpoint Office Complex and a $5 million profit on the acquisition and sale of a 75,000-square-foot building.

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