Cassidy Turley represented Dalfen America Corp. (dba Mazal TOV Realty, LPL) in the purchase of Baseline Interstate, a ±136,683-square-foot industrial warehouse/office property at 4707 E. Baseline Rd. in Phoenix. The investment company located in Westmount, Quebec, Canada purchased the property for $7,500,000 ($55.02psf) from Holualoa Companies (dba 4707 Baseline Phoenix) of Tucson. Executive Vice President’s Bob Buckley, Tracy Cartledge and Steve Lindley, with Cassidy Turley’s Capital Markets Group, negotiated the transaction on behalf of the buyer. CBRE represented the seller.
According to Buckley, “Dalfen purchased this building vacant and already have solid tenant activity for the property.” Baseline Interstate is the third property in Metro Phoenix Cassidy Turley has represented Dalfen. “We continue to see an increase in Canadian buyers looking to acquire office and industrial properties in the Phoenix area. They are motivated by a desire to diversify their Canadian investments into U.S. dollar investments,” Buckley added.
Built in 1996, the Baseline Interstate project sits on ±6.8-acres that fronts Baseline Road and has direct access to I-10. The building includes ±42,372 square feet of office space and ±94,311 square feet of warehouse space with 10 truck-well dock configurations, two grade-level doors and 24 to 26 foot clear heights. The building was vacant at the time of sale.