Tag Archives: Black Canyon Business Park

Black Canyon Business Park, Cassidy Turley, WEB

California investor buys Black Canyon Business Park

Cassidy Turley announced that BKM Capital Partners (Irvine, California) acquired Black Canyon Business Park, a ±219,090 square foot business park at 8041 North Black Canyon Freeway for $13.1 million. The seller was Business Properties (Irvine, California).

Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley’s Capital Markets Group and Vice President John Pompay with Cassidy Turley’s Industrial Group brokered the transaction representing both parties.

“The project has an outstanding location, with freeway exposure,” Mr. Buckley said. “With the ability to capitalize on improving market conditions and tenant demand, Black Canyon Business Park offered exceptional value and upside potential for the buyer.”

Black Canyon Business Park is a 15 building business park with office, flex industrial and retail spaces ranging in size from 1,200 to 13,000 square feet. Built between 1975 and 1984, the property is located on the northeast corner of Northern Avenue and Interstate 17. The property was ±34% leased at the time of sale.

2341 W Royal Palm Rd

Pentecostals of Phoenix purchase 2341 W. Royal Palm Rd.

The Pentecostals of Phoenix closed escrow today on a 24,568 square foot building in the Black Canyon Business Park, just northeast of I-17 and Northern Ave. in Phoenix, Arizona. The building was leased by Blue Cross Blue Shield of Arizona in the past.

Joe Holeva of Accelerated Commercial Real Estate represented the Seller, Ivy Realty Trust of Houston, Texas. Gene Montemore of Real Living Success Realty represented the Buyer.

“This building offers the Pentecostals of Phoenix room to grow their congregation, offer ancillary services for children during worship hours, and a convenient location near the I-17 freeway. The Pentecostals of Phoenix staff is ecstatic about the possibilities this building offers” reports their representative, Gene Montemore.