CBRE has arranged the $6.9 million sale of an 86,152-square-foot industrial building located at 7001 W. Erie Street in Chandler, Arizona. This transaction marks the largest owner-user industrial sale in the West Chandler submarket in the past 27 months.
Mike Parker, Evan Koplan, Serena Wedlich, Pat Feeney, Daniel Calihan, Rusty Kennedy and James Cohn of CBRE’s Phoenix office represented the seller, CTC Industrial (Kevin Pshebniski). This is the Team’s third sale transaction with Kevin Pshebniski and second in the past two months. Ken McQueen of Lee & Associates represented the buyer, Phoenix-based State Seal Company, a manufacturer and distributor of seals, gaskets and converted products.
State Seal Company, which will occupy 62,423 square feet, has plans to renovate the property and relocate its manufacturing operations from its current location south of Sky Harbor International Airport in Phoenix. The existing tenant, Axus Technology, will remain in its 23,729-square-foot space.
Constructed in 1995, the building sits on approximately 4.96 acres and benefits from excellent access to the I-10 and Loop 202 San Tan Freeway.