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February 22, 2020
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169k sf WA Industrial / Manufacturing Facility Traded in $17 Mil Deal

1/16/20

Pinnacle Peak CO LLC, based out of Bellingham, WA, paid $17 mil in cash for a 168.9k sf industrial manufacturing building in Phoenix. The property is located on 13.55 acres at 2140 West Pinnacle Peak Rd.

The property was sold by Thul LLC, a principle of APSM Systems, a sheet metal fabrication company founded in 1966 that has occupied the building since it was built in 1994. APSM has signed a 10 year leaseback on the property.

The building includes 25.5k sf of office space. It is in the Deer Valley submarket and, we’re told, represents the largest sale of a single-tenant industrial building in Deer Valley by both dollar amount and square feet since 2011.

Eric Bell, Mike Ciosek, and Dylan Scott with Kidder Mathews represented Pinnacle Peak Company in the transaction.

“This was a win-win for both buyer and seller. The buyer’s manufacturing background gave them a great comfort level with both the real estate and the tenant operations, and the seller is able to use the proceeds from the sale to reinvest in their growing manufacturing business,” said Bell.




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