{"id":1004193423,"date":"2017-10-11T07:39:21","date_gmt":"2017-10-11T15:39:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193423"},"modified":"2022-12-08T20:18:14","modified_gmt":"2022-12-09T04:18:14","slug":"phoenix-industrial-asset-trades-for-7m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-trades-for-7m\/","title":{"rendered":"Phoenix Industrial Asset Trades for $7M"},"content":{"rendered":"

By Tudor Scolca<\/em><\/p>\n

\"State<\/a>

LOC Leasing purchased an 86,000-square-foot industrial building for $6.9 million<\/p><\/div>\n

State Seal Corp. purchased an industrial distribution facility in Chandler, Az., through its subsidiary, LOC Leasing. Principal Ken McQueen of Lee & Associates Arizona represented the buyer, while Mike Parker and Evan Kaplan of CBRE represented the seller, CTC Industrial, an entity controlled by Hopewell Development. Lee & Associates recently facilitated the sale of an industrial portfolio in Phoenix<\/a>, which commanded $12 million.<\/p>\n

Located at 7001 W. Erie St., the 86,000-square-foot facility traded for $6.9 million, or $80.2 per square foot. The property occupies a 9.76-acre site near Interstate-10 and Route 202, which offer connectivity to downtown Phoenix and beyond. The building features 24-foot clear height, as well as grade and dock high loading. Currently, Axus Technologies occupies 23,000 square feet at the property, reducing the occupancy cost for the buyer.<\/p>\n

\u201cState Seal currently occupies four separate facilities and this acquisition will allow [it] to operate more efficiently out of one property and minimize operational costs,<\/em>\u201d said Ken McQueen, principal at Lee & Associates, in a prepared statement. State Seal Corp. will begin operating out of the building in December this year.<\/p>\n

Image courtesy of Lee & Associates<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 86,000-square-foot distribution building is situated near Interstate-10 and Route 202. Axus Technologies occupies 23,000 square feet at the facility.<\/p>\n","protected":false},"author":1284,"featured_media":1004193424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21742,1601,15],"tags":[32789,32762],"class_list":["post-1004193423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-latest","category-phoenix","category-west","tag-cbre","tag-lee-associates"],"acf":[],"yoast_head":"\nPhoenix Industrial Asset Trades for $7M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-trades-for-7m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Industrial Asset Trades for $7M\" \/>\n<meta property=\"og:description\" content=\"The 86,000-square-foot distribution building is situated near Interstate-10 and Route 202. 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