Phoenix – June 21, 2016 – CBRE has completed the sale of Park on Bell, a 228-unit multifamily community located off of Bell Road in Phoenix, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter, and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller.
“Developed in 2009, Park on Bell benefits tremendously from an infill location affording access to major employment and transportation corridors,” said CBRE’s Anderson. “Combined with in-place rents below competing multifamily communities and a limited multifamily pipeline in North Phoenix, Park on Bell is positioned to experience continued high occupancy levels and strong future rent growth.”
Park on Bell is a sought after community featuring several distinguishable common area amenities including a resident clubhouse, 24-hour fitness center, lighted dog park, resort-style swimming pool, gas barbecue grills, and gated access. Spacious one- and two-bedroom floorplans are equipped with full-size washers and dryers, oversized walk-in closets, nine- and ten-foot ceilings, kitchens with islands, private patios/balconies, and dual pane windows. In addition to its many on-site conveniences, Park on Bell is also situated within walking distance of neighborhood retail and dining.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
