Dallas-based Clarion Partners sold West 10 Business Center, a 146,663-square-foot industrial building located at 4703 W. Brill Street in Phoenix, to Bixby Land Company of Newport Beach, Calif. for $9.53 million.
Cushman & Wakefield’s Phoenix top industrial investment sales broker Will Strong negotiated the transaction on behalf of the seller, CLPF-West 10 Business Center, L.P., which is an entity owned by Clarion Partners.
A state-of-the-art general industrial building, West 10 Business Center, is situated on approximately 8.77 acres and is 100-percent leased to three quality tenants including Shurjoint, Diamond Kitchen and Bath, and Healing Solutions. The premier Class A property, located in the heart to the West Central Phoenix Industrial submarket, is a functional, multi-tenant distribution building with recent modern upgrades.
West 10 Business Center has been institutionally owned, managed, and maintained since inception by one of the largest and most active real estate owners in the U.S. The property is one of the most recognizable assets in the Southwest Valley due to its I-10 Freeway frontage, quality construction, and proximity to major freeways.