Phoenix – July 26, 2013 – CBRE has completed the sale of a 50,000-square-foot, multi-tenant industrial building located at 455 E. Warner Road in Chandler, Ariz., within Warner Commerce Park.
Evan Koplan and Mike Parker of CBRE’s Phoenix office represented the seller, Dalfen America Corp. of Westmount, Quebec, Canada, which acquired the property in June 2012. The buyer, Calif.-based Del Mar Partnership, was represented by Tricia Gumulka and Rob Stephens of Newmark Grubb Knight Frank in Phoenix, Ariz., who purchased the fully-occupied property for $4.1 million.
“After Dalfen America Corp. acquired the property, we quickly repositioned the asset and were able to secure a synergistic use that complimented the existing tenancy,” said Koplan. “Upon reaching full occupancy and stabilizing the property’s income stream, Dalfen America Corp. accepted an unsolicited offer to purchase the asset from an out-of-state, 1031 exchange buyer eager to place capital in the Phoenix market.”
Built in 2008, the building has frontage on Warner Road, as well as high-end finishes, ample parking, truck and grade-level loading, and 24-foot clear height, making it ideal for industrial and related uses.