Cassidy Turley announced the $6.5 million ($84.08/psf) sale of Eastpoint Business Center located at 3191 N. Washington Street in Chandler, Ariz. Privately held investment management company AICI (El Segundo, CA) purchased the 77,303 square foot property from Dalfen America Corp. of Westmount, Quebec, Canada.
Cassidy Turley’s Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan represented the seller.
Built in 1998, Eastpoint Business Center is a fully occupied, multi-tenant general industrial property. The project’s tenants include Presto-O-Fit Manufacturing, Port Plastics, Flash Co Manufacturing and Motorsport Aftermarket Group.
“Eastpoint has an excellent operating history, with overall occupancy of 93% over the past 15 years,” said Buckley. “For the buyer, the property represented the opportunity to own a well-designed and well-positioned asset in Chandler, one of the Valley’s strongest submarkets.”
Cassidy Turley announced that it completed an expansion lease of 15KSF for Prest-O-Fit (Chandler, Ariz.) at Eastpoint Business Center, 3191 N. Washington St. Senior Vice President Pete Klees with Cassidy Turley’s Industrial Group represented the tenant, while Evan Koplan and Mike Parker with CBRE represented the landlord, Dalfen America (Quebec, Canada).
“Prest-O-Fit is one of the few medium-sized businesses which I have seen grow robustly during these slow economic times” Mr Klees said.
Prest-O-Fit is a provider of high-quality RV products and flooring accessories including RV sewer and sanitation products, step rugs, patio rugs, mats and interior rugs.
Built in 1997, Eastpoint Business Center is 77,225 SF industrial warehouse on 6.91 acres. The project is centrally located in the east valley with access to the Loop 101 Freeway, U.S. Highway 60, the new Loop 202 Freeway and Sky Harbor International Airport. Eastpoint Business Center was renovated in 2012 and is currently 100% leased.