Cassidy Turley announced the sale of First Commons at West 10, a ±99,528, institutional-quality, multi-tenant industrial complex. Located at 4625 and 4635 W. McDowell Road, the two-building, general industrial warehouse buildings were purchased by Enright Capital, Calgary, Alberta for $6.08 million. The seller was MDI Capital.
Cassidy Turley Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley negotiated the transaction on behalf of both the buyer and the seller.
“Although First Commons at West 10 was built over a decade ago, the property includes design and functionality that makes it competitive with the most modern multi-tenant industrial properties in the market,” said Mr. Buckley.
Built in 2002, the complex sits on 6.88 acres just north of Interstate 10 at 45th Avenue and includes the 44,637 SF north building at 4625 W. McDowell and the 54,890 SF south building at 4635 W. McDowell. The property was ±60% leased at the time of sale.
Paul Sweetland has been named Senior Director in the Industrial Properties Division of Cushman & Wakefield of Arizona, Inc.
Sweetland leases and sells industrial properties with a specialization in freestanding owner/user buildings and multi-tenant developments. Clients served by Sweetland include Western Refining, Harsch Investment Properties, Westcore Properties, Washington Federal, MDI Capital, Panattoni Development, Equity Building Services, City National Bank and GE Capital.
Sweetland brings to Cushman & Wakefield more than 16 years of experience in the industrial real estate market. He spent 13 years practicing in the Las Vegas market and has worked in the Metro Phoenix area for the past three years.
“We are thrilled to have Paul join us as we continue to grow our industrial presence in the greater Phoenix market,” commented Joe Cook, C&W’s COO, U.S. Markets.
Sweetland holds the designation of Society of Industrial and Office Realtors (SIOR). He earned real estate licenses from both the Arizona School of Real Estate and Business and the Nevada School of Real Estate and Business.