Parc 17, a three-building, 177,770 SF industrial park at 1800- 1880 S. 7th Ave., Phoenix, sold for $16,100,000 in an off-market transaction.
Principals Stein Koss, Tom Louer and Associate Nick Nudo of the Koss | Louer Team at Lee & Associates, represented both the buyer, Colfin Industrial Acquisitions, LLC (Colony Northstar), Dallas, TX and the seller, Jackson-Shaw Co., also of Dallas.
“This was a excellent play for Colony Northstar. Parc 17 is a great compliment to their existing Phoenix portfolio,” Koss commented.
Built in 2015, the multi-tenant property consists of a 101,310 SF, 31,871 SF and 44,589 SF distribution/warehouse buildings. It features I-17 Freeway frontage at the full diamond 7th Ave. exit, access to all major Valley freeways and one-day proximity to the top distribution centers in the Western United States. All buildings feature dock high and grade level loading capabilities, and offers excellent individual tenant identity with freeway signage opportunities.
The Koss | Louer team will retain its leasing assignment with the new ownership.
