Capital Asset Management Organizes Sale of Office Project

Western Skies Business Center

Western Skies Business Center

Restart Western Skies L.P. in Kentfield, Calif. (Lee Sims, Jr., Kent Rowett, principals) paid $6.275 million ($90.17 per foot) to purchase a 69,593-square-foot office project at 1166, 1176 and 1206 E. Warner Road in Gilbert. The seller was WSBC LLC in Phoenix (Carl Bommarito, managing member).

The cash sale was negotiated by Rachelle Smith Strole and Stephen Herman of Capital Asset Management in Phoenix. The three building complex is comprised of buildings of 23,565 sq. ft., 23,520 sq. ft. and 22,508 sq. ft. The structures are 88 percent, 45 percent and 33 percent occupied, respectively. The project, which was developed in 2008, is called Western Skies Business Center. The 6.52-acre development was purchased for investment.  Capital Asset Management has the leasing and management assignment.

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