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5/22/26
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Trumark Real Estate Management closed on an industrial buy in Peoria, AZ, paying $20.75 mil for a newly constructed, 75.5k sf ($275/sf) facility. The multi-tenant property, located at 8700 North 91st Ave, was sold by The Initial Development Company, led by principal David Baum.
Completed in 2024, the industrial property is fully occupied and was acquired as part of a 1031 exchange. Designed for multiple tenants, the building features grade-level doors to each bay, two shared loading docks, and strong visibility and signage opportunities along Loop 101.
Located within the West Valley growth corridor, the site offers immediate access to Loop 101 via the Olive Avenue interchange and is approximately seven miles north of Interstate 10, providing connectivity to the Metro Phoenix–Los Angeles transportation network. Numerous cultural, shopping and entertainment destinations are nearby, and the property benefits from access to the Metro Phoenix labor pool.
CBRE’s Geoffrey Turbow represented the buyer in the transaction.
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