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12/15/22
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Phoenix-based Citywide Commercial Real Estate has acquired a five-building, 86.3k sf industrial portfolio within Thunderbird Business Park in Phoenix for $7 mil ($81/sf). The portfolio, located on just over seven acres at the southeast corner of Indian School Rd and 31st Ave, contains a mix of single-story, multi-tenant office, retail and industrial buildings.
The portfolio includes 35 individual suites, which are 100% occupied primarily by small business owners and long-term tenants. It is part of the larger seven-building Thunderbird Business Park.
The buildings were last sold nearly 20 years ago in 2003. The new owner, El Camino Investment Co, plans to complete improvements to modernize the portfolio and further enhance its presence in the community.
Adam Shteir, Todd Hamilton and Chad Kirkorsky at Citywide represented the buyer in the transaction. The seller was Northgate – 72 LLC. Citywide serves as the exclusive leasing and property management firm for the Thunderbird Business Park buildings and will continue to do so under the portfolio’s new ownership.
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