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9/12/25
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A two-building, 124.3k sf flex industrial office portfolio in Phoenix’s Deer Valley submarket was purchased for $22.5 mil ($181/sf) by a private investor. Located within the North Loop 101 Business Center, the single-story buildings occupy 7.22 acres and were constructed in 2001.
One of the buildings, at 950 West Behrend Dr, spans 76.1k sf with 45.1k sf leased to American Defense Structures LLC and 31k sf of office space slated for conversion to flex. The other building, at 960 West Behrend Dr, offers 48.2k sf of flex-lab-office space. It is home to such tenants as Super Star Car Wash HQ, Paradise Behavioral Health LLC and National Dentex.
The property benefits from immediate access to Loop 101 and proximity to over 550,000 sq. ft. of retail and dining at Deer Valley Towne Center.
CBRE’s Geoffrey Turbow, Anthony DeLorenzo and Ashley Brooks represented the seller, Regent Properties, in the deal. According to Turbow, the buyer saw long-term value in the strong tenancy, strategic location, and upside potential of 950 and 960 West Behrend Drive.”
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