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2/04/21
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A 62.4k sf, Class A industrial facility in Chandler, AZ traded hands for $10 mil ($160/sf). The asset was acquired by Orange County-based Kanasardas Investment LLC.
Constructed in 2010, the building is located at 3167 West Armstrong Place, in the Southeast Valley. It is fully leased on a long-term basis to a regional credit tenant, one of the nation’s largest integrated designers, manufacturers and installers of products for the commercial building envelope.
The property’s location provides superior freeway and regional accessibility along with nearby public transportation access and proximity to multiple airports. Also located nearby are the Phoenix Sky Harbor Airport, Chandler Municipal Airport, and Phoenix-Mesa Gateway Airport.
Will Strong, Phil Haenel, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.
“This was a great opportunity to acquire a high quality, stable industrial asset strategically positioned along the vibrant Price Corridor, a preferred location for the region’s cutting-edge corporate users,” said Strong. “The Corridor is distinguished for its dynamic corporate setting, intelligent and innovative labor pool, friendly neighborhoods, inviting shopping and dining scene, and a world-class infrastructure that includes high-capacity utilities.”
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