Phoenix-based Helix Properties bought an office building in Phoenix for $4.98 million, CBRE announced.

The three-story, multi-tenant office building is located at 10835 N. 25th Ave., Phoenix, according to a press release.

“Phoenix’s Black Canyon Corridor has long been the cost-effective, high-value alternative to its expensive neighboring submarkets," said Eric Wichterman of CBRE. "This building's low occupancy offers the buyer an ideal value-add opportunity with a clear path to potential significant upside by having the lowest basis in the trade area and by implementing a spec suite program to stabilize."

The building is currently 22% leased.

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