 |
| Skip Corley, Jr. |
“Based on today’s high industrial demand, they decided to sell the portfolio in order to pursue more aggressive cap rates, while bringing a strong cash-flowing offering to the market.”
Corley notes that since the properties are
located in two different cities approximately 60 miles apart, he had to get
potential buyers comfortable with each.
“Most investors immediately understood the long-term value of the building located within the highly in-demand Deer Valley industrial submarket of Phoenix,” says Corley.
 |
| Bob Beardsley |
“That said, the Casa Grande
market is considerably smaller. Ultimately, we were able to effectively
communicate that this was a prime opportunity to own not one but two assets
that are NNN-leased to a single investment grade tenant.”
Corley notes that both properties have been leased to CenturyLink for several decades. The assets include:
 |
| Todd Hamilton |
·
An 8,100 square-foot building on 3.01 acres of land located at
21011 North 27th Avenue in Phoenix, Arizona.
· A
3,770 square-foot building on 3.64 acres of land located at 13333 West Selma
Highway in Casa Grande, Arizona.
The buyer was represented in the transaction by
Bob Beardsley and Todd Hamilton. The total consideration of the sale was $3.45
million.
Contacts:
Arleeny Escarcega / Elisabeth Manville
Brower Group
(949) 438-6262
aescarcega@brower-group.com