DTZ, a global leader in commercial real estate services, announced today that Bixby Land Company purchased Tharco Freeport Distribution Center, 640 S. 51st Ave. in Phoenix’s Southwest submarket.
Pacifica Real Estate Group sold the 108,287 square foot institutional quality industrial distribution center for $8.1 million. The building is fully leased to Tharco, one of the largest manufacturers and suppliers of unprinted corrugated stock boxes in the U.S.
DTZ Senior Vice President Will Strong; Executive Managing Directors Mike Haenel and Andy Markham, SIOR; and Associate Phil Haenel facilitated both sides of the investment transaction.
Built in 1994 the warehouse/distribution building is located on ±5.28 acres south of the I-10 on 51st Avenue (full diamond interchange) and has an active rail spur currently utilized by Tharco.