Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of a 10,366 SF industrial warehouse located in Fiesta Ranch Commerce Park at 965 North Acacia Drive in Gilbert, Ariz. Andy Jaffe, SIOR of CPI’s Tempe Industrial Group represented the buyer, D&F Properties, LLC in this transaction.
Andy Jaffe, SIOR commented, “The property was originally only listed for lease and my client made an offer to purchase the property. Kent Hanson represented the Lorenzo M Contreras Family Trust, who ultimately accepted the offer and the deal closed in under 30 days from fully executed contracts.”
965 N. Acacia Dr. is a freestanding warehouse building previously owned by the Lorenzo M Contreras Family Trust, and is located just north of Guadalupe Road and east of McQueen Road in Gilbert. The reinforced concrete industrial warehouse was built in 2003 and is located in close proximity to major freeways and has excellent parking.
Jaffe, added, “D&F Properties, LLC is the new owner/operator, which will be setting up a manufacturing and distribution center for a company that they own, to expand here in Gilbert. D&F Properties, LLC is based out of San Jose, California.”
The sale was valued at $960,000.