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June 18, 2024
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L.A. Investor Nabs Phoenix Industrial Facility in $7 Mil Buy


A 49.8k sf industrial facility in Phoenix trades hands for $6.97 mil ($140/sf) in a sale/leaseback deal. The seller, Regency Technologies, an IT asset conversion service provider, signed a new 10-year, NNN lease at the property.

The property, located at 1815 Deer Valley Rd, sits in the heart of the “village core” of the North Valley that is anchored by many national companies. The property is close to more than 1.1 msf of retail, restaurant, hotel and shopping amenities at Happy Valley Towne Center and The Shops at Norterra. It is also near the Phoenix Deer Valley Airport, one of the busiest general aviation airports.

Geoffrey Turbow, Matt Pourcho, Gary Stache, Anthony DeLorenzo, Bryan Johnson, Gary Cornish, Rusty Kennedy, Pat Feeney and Danny Calihan with CBRE represented Regency Technologies in the transaction. The buyer was a private investor out of Los Angeles.

A recent survey of commercial real estate investors ranked Phoenix as a top-10 target among America’s metros. The Sun Belt market jumped five spots to No. 4 in CBRE’s 2021 Americas Investor Intentions Survey.

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