California Investor Purchases Single-Tenant Industrial Property in Phoenix

 Cushman & Wakefield announced today the $5 million sale of an industrial property located at 1620 West Knudsen Drive in Phoenix. A California-based 1031-Exchange investor purchased the 41,073-square-foot building from P&P Stewart Investments, LLC of Flagstaff, Arizona.

NORANCO

Cushman & Wakefield’s Executive Directors Rick Danis and Paul Boyle represented the seller. Brian Gleason of Phoenix West Commercial represented the buyer.

The single-tenant industrial/manufacturing building is currently 100% occupied by Noranco Manufacturing (U.S.A) LTD, a subsidiary of Berkshire Hathaway. Built in 1999, the property is located on ±3.14-acres in Phoenix’s Deer Valley submarket.

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