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.”