CBRE Group, Inc. has arranged the $5.3 million sale of a freestanding industrial warehouse property located at 2426 S. 7th Street in Phoenix. American Beverage Corporation currently occupies the 60,450-square-foot building, which was built in 1976 and sits on approximately 3.51 acres.
Cooper Fratt and John Werstler with CBRE’s Phoenix represented the seller, Newport Beach, California-based The O’Donnell Group. This is the third time in seven years the team has brokered the sale of 2426 S 7th St. The buyer was Terra Enterprises, Inc., represented by Colliers International.
“This was an excellent opportunity for the buyer to purchase a functional industrial warehouse building below replacement cost and within a land-constrained submarket leased to a national tenant operating in the beverage industry since 1960,” said CBRE’s Fratt.
Located in the preferred Central Phoenix industrial submarket, the property is a half-mile from a full diamond interchange at the I-17.
American Beverage Corporation has operated out of the property since 1992, utilizing the building for its West Coast manufacturing and bottling production plant.