Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, has sold Sunstate Plaza, a 18,815 SF industrial flex building located at 1727 N Arizona Avenue in Chandler, Arizona. Darin Edwards of CPI’s Industrial Team, and Andy Jaffe of CPI’s Investment Specialist Team represented the seller, New Age Properties, LLC, in this $1.61 million investment sale.
Andy Jaffe commented, CPI managed this property for 10 years and we were extremely diligent on the leasing and renewals. Once the decision was made to sell it, the owner came to us to get this investment sale underway.
Darin Edwards added, When we took over this property, it was in a distressed state with heavy vacancies. We were able to stabilize the property coming out of the downturn in the economy.”
The property is located just south of Warner Road with frontage on Arizona Avenue. The buyer, InSaf Investments LLC, was represented by Orion Investment Real Estate.
