Commercial Properties, Inc./CORFAC International. (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of two industrial investment buildings located at 3249 & 3259 E Harbor Drive in Phoenix, Arizona.
The buildings equaled approximately ±42,001 square feet and are located in Southbank Business Center, just off the I-10 and 40th Street. Ron Schooler of CPI’s Investment Specialist Team represented the seller.
Schooler commented, “I originally helped the seller purchase this property as a 1031 exchange in 2012. I leased up the property with tenants like Bestway Inc. & Thyssenkrupp. Thyssenkrupp is a steel production company based out of Germany with more than 57,000 employees. Thyssenkrupp was ranked as the tenth-largest worldwide by revenue in 2015. Bestway Corporation is based out of China, and specializes in multiple inflatable, water sports products, above ground pools and other outdoor items. Both of these companies are strong, stable tenants, which bring value to these properties for any investor.”
Daum represented the buyer, Tashi G Zouras, Trustee, who acquired the properties for $4.8 million ($114 psf).