Roof Products Inc buys Phoenix manufacturing facility
Cushman & Wakefield of Arizona, Inc. negotiated the $1.45 million sale of a manufacturing facility at 5341 W. Luke Ave.
The 35,000-square-foot property was built in 1985, and sits on two acres. The property was not on the market at the time of the sale. However, when discovered, it turned out to be the ideal building for Roof Products Inc. (RPI), which is based in Chattanooga, Tenn.
RPI has been in Arizona for 13 years. The new building will serve as its Western regional headquarters. RPI is a manufacturer of roof curbs and also furnishes sky lights for its customers.
Justin LeMaster and Mike Gilbert of Cushman & Wakefield’s industrial division represented RPI.
“Due to the lack of supply of functional, freestanding buildings in the marketplace, we searched high and low to uncover the right facility for our client,” LeMaster said. “This facility gives Roof Products the ability to expand its business and its presence in the Western U.S.”
“The industrial team of Justin LeMaster and Mike Gilbert exceeded our expectations throughout the entire process,” said Robert Banicki, President of RPI. “Due to our growing business, customer demand and need for a specialized facility, we wanted to own our next building. Justin and Mike used their market knowledge and relationships in the brokerage community to identify the perfect facility for our company.”
The sale price commanded $41.50 per square foot. Peter Batschelet of Lee & Associates represented the seller, Wynn Properties LLC.