Phoenix

2 Phoenix industrial buildings sell for $4.8M

Two industrial investment buildings at 3249 & 3259 E. Harbour Dr. were bought for $4.8 million by Tashi G Zouras, Trustee, according to Commercial Properties Inc./CORFAC International.

The buildings equaled approximately 42,001 square feet and are located in Southbank Business Center, just off the I-10 and 40th Street. Ron Schooler of CPI’s Investment Specialist Team represented the seller, who was not disclosed.

Daum represented the buyer, Tashi G Zouras.

Schooler commented, “I originally helped the seller purchase this property as a 1031 exchange in 2012. I leased up the property with tenants like Bestway Inc. & Thyssenkrupp. Thyssenkrupp is a steel production company based out of Germany with more than 57,000 employees. Thyssenkrupp was ranked as the tenth-largest worldwide by revenue in 2015. Bestway Corporation is based out of China, and specializes in multiple inflatable, water sports products, above ground pools and other outdoor items. Both of these companies are strong, stable tenants, which bring value to these properties for any investor.”

POSTED: . TAGS: , , , ,

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.