Phoenix, Arizona – Cushman & Wakefield completed the sale of Seventy5 Business Park, located at 7150 W. Roosevelt Street in Phoenix. RREF III-P Seventy5, LLC of Lakeway, Colo. purchased the property from Roosevelt Business Park Phoenix, LLC of Newport Beach, Calif.
Paul Boyle, Rick Danis, Gary Anderson and Mike Gilbert, with Cushman & Wakefield, brokered the $22.4 million deal on behalf of both the buyer and seller.
“Seventy5 Business Park fills a hard to find niche, offering smaller sized units in a submarket that is dominated by large, big box distribution centers,” said Boyle.
Built in 2006, Seventy5 Business Park is a four-building industrial park totaling 222,396 square feet (SF) and situated on 14.38 acres. The Class A, multi-tenant industrial property is currently 90% leased and offers grade level and truckwell loading, monument signage on I-10 and 18’ clear height.
Seventy5 Business Park is located in the Southwest Phoenix submarket, the largest industrial submarket in the Valley. With 1,300 feet of frontage on I-10, Seventy5 Business Park is highly visible. The property is easily accessible from 67th & 75th Avenues, both of which have full-diamond interchanges and construction is underway for full interchange access to the Loop 202 scheduled for completion in 2019/2020.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.