Phoenix-based LOC Leasing LLC., an entity owned by the principals of State Seal Corporation, has purchased an 86,000-square-foot industrial distribution building at Chandler Technology Center for $6.9 million.
Ken McQueen of Lee & Associates represented the buyer. Mike Parker and Evan Kaplan of CBRE represented the seller, CTC Industrial, LP., an entity controlled by Kevin Pshebiniski of Hopewell Development.
“State Seal currently occupies four separate facilities and this acquisition will allow them to operate more efficiently out of one property and minimize operational costs,” said McQueen. State seal will begin operating out of the building in December 2017.
Located on 9.76-acres at 7001 W. Erie St. in Chandler, the property offers strong curb appeal, heavy power, 24-foot clear height, and grade and dock high loading. Functional attributes are complimented by abundant area amenities.
Axus Technologies currently holds 23,000-square-feet at the property, further reducing the occupancy cost for the buyer.