| Cushman & Wakefield announced today the $4.75 million sale of an industrial property located at 1733 W. Parkside Lane in Phoenix. Los Angeles-based West End Hotel, LLC purchased the 36,907-square-foot (SF) building from Accutron Real Estate Holdings, LLC of Phoenix.
Cushman & Wakefield’s Executive Directors Rick Danis, Kent Hanson and Paul Boyle represented the seller. Bob Broyles of Colliers International represented the buyer.
The single-tenant office/industrial building was developed in 2001. The property is concrete-tilt construction and features traditional office areas, an air-conditioned production area, mezzanine storage and an evaporative cooled warehouse. Other building features include 28’ clear height, fire sprinklers, grade-level and truckwell loading and ample power. The building resides on 1.54 acres and there are 77 parking spaces – some covered.
Located in the Deer Valley industrial submarket which contains over 15 million SF, making it one of the larger submarkets in Metro Phoenix. The Deer Valley submarket is home to almost 500 buildings/properties. As of the fourth quarter of 2016, vacancy in the Deer Valley submarket totaled 8.2%, slightly lower than the overall market vacancy of 9.1%.