Bell Steel buys industrial property in Chandler
CBRE has completed the sale a 46,119-square-foot industrial property located at 1100 N. Hamilton St. in Chandler, Ariz. The property, which sits on 14.83 acres, commanded a sale price of $4.5 million.
Evan Koplan and Mike Parker with CBRE’s Phoenix office negotiated the sale on behalf of the seller, TW Steel of Chandler. The buyer, Gilbert-based Bell Steel Inc., was represented by Steve Larsen with JLL.
1100 N. Hamilton Street in Chandler is an extremely unique opportunity given its size, heavy industrial zoned land, cranes, power, and location within the thriving Chandler submarket,” said CBRE’s Koplan. “We were able to find the buyer, who instantly found value in all of the existing improvements, within hours of bringing this property to the market. With the Chandler submarket vacancy rate just above 6 percent for this particular product type, it’s currently very challenging for a user to find existing opportunities like this.”
The property at 1100 N. Hamilton Street features a mix of buildings on heavy industrial land. The sale included a 4,000-square-foot office building, a 29,319-square-foot fabrication building, a 10,800-square-foot office/warehouse building and a 2,000-square-foot storage building all on 14.83 acres. The property also features multiple cranes with heavy power and covered parking.