Cashen Realty Advisors announces the sale of the property located at 24435 N. 20th Drive in Phoenix. The 42,623 s.f. building is leased to The Learning Journey International, L.L.C. The Purchase Price was $4,643,568.
The Buyer in the transaction was Learning Building, LLC, Principal Brice Samuel (602-840-2990). The Seller in the transaction was Alameda Investments, Inc., Principals Joseph B. and Deborah S. Frere (602-787-1115).
The building was constructed in 2008 and as part of the sale The Learning Journey leased the property back for seven (7) years from the new Owner. The Learning Journey which opened its doors in 1995 is a leading designer and manufacturer of children’s interactive educational products. They are in numerous international markets with products in multiple languages, including many bilingual products. Their major distributors are Walmart, Costco, Amazon, Toys”R”Us and many other retailers throughout the world. The products are designed in the United States and manufactured in China.
The Seller in the transaction was represented by Josh Landers, Commercial 33 Brokerage (480-217-9599) and the Buyer was represented by Cashen Realty Advisors.