Cushman & Wakefield negotiated the $7.5 million sale of Arcadia Corporate Park, located at the northeast corner of McDowell Road and 48th Street.
The Phoenix property was sold to California-based WLA Investment.
Arcadia Corporate Park is an eight-building, multi-tenant industrial complex totaling 109,143 square feet. Built in 1981, the property features grade-level loading doors servicing each suite and 14 feet to 16 feet clear height in warehouse areas.
Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan with Cushman & Wakefield represented the seller in the transaction, Phoenix-based Presson Companies.
“In Arcadia Corporate Park, WLA saw an opportunity to acquire a quality, well maintained multi-tenant industrial complex located in an infill location with virtually no sites available to build competitive new product,” said Buckley.
Encompassing 9.13-acres, Arcadia Corporate Park has excellent frontage on McDowell Road, one of the major east/west traffic corridors connecting Phoenix, Scottsdale and Tempe. “The exceptional curb appeal, with high-visibility creates strong location awareness to draw potential tenants and customers,” added Buckley.
