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September 28, 2020
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AZ Industrial Warehouse Traded Between Similar Owner/User Businesses


DS Electronics bought an 18k sf, freestanding industrial warehouse property in Gilbert, AZ for $2.33 mil ($129/sf). The property is located at 130 N. Pasadena St, west of McQueen Rd and north of Elliot Rd.

DS is an owner/user that purchased the property to expand its local operation. The building was sold by Imagine Manufacturing LLC, who will relocate to EastGroup Properties’ Gilbert Crossroads Business Park at 425 E. Germann Rd in Gilbert in July.

Built in 1997 and situated on 1.5 acres, the air-conditioned warehouse features 4.9k sf of office space, 18-foot clear height, two grade-level doors and 65 parking spaces. It is also conveniently located near several major freeways, including State Route 87, the U.S. 60 and the Loop 101 freeway.

Mike Parker of CBRE in Phoenix represented both parties in the transaction.

“This was a unique transaction in that the buyer and seller are direct, yet friendly, competitors and DS Electronics was looking to expand its manufacturing footprint.” said Parker. “Given that the building was designed for electronic assembly operations, it fit like a glove for the buyer in terms of both use and location.”

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