CBRE has completed the sale of Turner Crossing at Southbank, a 20,103 sq. ft. single-tenant flex industrial property located at 3401 E Harbour Drive in Phoenix.
Turner Real Estate Investments, based in Newport Beach, California, was the seller. The buyer was Portex Partners, based in Glendale, California. Kelly Betpolice and Peter Steigleder of Brookfield Partners represented the buyer. The seller was represented by Mike Parker, Evan Koplan and Serena Wedlich of CBRE Phoenix. Total consideration for the transaction was $3.03 million.
“From the beginning of this investment, Mike, Evan and Serena provided valuable, accurate market insights for us to deliver superior returns to our investors,” said Jason Korengold, Director of Acquisitions at Turner Real Estate Investments. “Their professionalism and hard work allowed us to complete the project on time and beat our original expectations.”
Close proximity to Sky Harbor International Airport affords Turner Crossing at Southbank convenient accessibility to the entire Valley. The property is located within a few miles of the I-10, I-17, Loop 202 and US 60 freeway systems. Turner Crossing at Southbank also boasts multiple recent property enhancements including new plumbing fixtures, freshly painted exteriors and updated office interiors.