{"id":1004464018,"date":"2020-07-17T03:55:06","date_gmt":"2020-07-17T11:55:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004464018"},"modified":"2020-07-17T03:55:06","modified_gmt":"2020-07-17T11:55:06","slug":"phoenix-flex-property-trades-for-8m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-flex-property-trades-for-8m\/","title":{"rendered":"Phoenix Flex Property Trades for $8M"},"content":{"rendered":"<div id=\"attachment_1004464051\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004464051\" data-attachment-id=\"1004464051\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phoenix-flex-property-trades-for-8m\/17602-n-black-canyon-highway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg\" data-orig-size=\"958,719\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"17602 N. Black Canyon Highway\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;17602 N. Black Canyon Highway. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg?w=958\" class=\"wp-image-1004464051 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg 958w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/17602-N.-Black-Canyon-Highway-e1594895599385.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004464051\" class=\"wp-caption-text\">17602 N. Black Canyon Highway. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p><\/div>\n<p>Safe Harbor Exchange Inc. has acquired a freestanding, 40,720-square-foot industrial\/flex building in Phoenix for $8.4 million. An entity controlled by VJ Properties Inc. sold the asset in a transaction brokered by Cushman &amp; Wakefield. Safe Harbor Exchange, an independent qualified intermediary for&nbsp;1031 tax deferred exchange transactions, picked up the asset as the second phase of a 1031 exchange.<\/p>\n<p>According to Yardi Matrix, the facility was completed in 1981. It features an on-site call center and service center.&nbsp;The single-tenant building is fully leased to a large cable provider that has occupied the property for more than 20 years. Improvements to the technology and common areas of tenant space were made in 2018 and 2019.<\/p>\n<p>Located at 17602 N. Black Canyon Highway, on 3 acres, the building is just off Interstate 17 and 2 miles from Loop 101. The surrounding area has several retail and dining options, including&nbsp;Bell Canyon Pavilions, which is within walking distance of the property. Downtown Phoenix is 15 miles from the facility.<\/p>\n<p>Cushman and Wakefield&#8217;s Paul Boyle and Rick Danis assisted the seller with the transaction. In April, Boyle represented the buyer of <a href=\"https:\/\/www.commercialsearch.com\/news\/the-william-warren-group-acquires-phoenix-storage-asset\/\">an 83,710-rentable-square-foot self storage property<\/a> in Phoenix. The asset changed hands for&nbsp;$11.9 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Safe Harbor Exchange acquired the asset in a 1031 exchange. Cushman &#038; Wakefield represented the seller.<\/p>\n","protected":false},"author":868,"featured_media":1004464051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1601,15],"tags":[33536,32799],"class_list":["post-1004464018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-1031-exchange","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phoenix Flex Property Trades for $8M - 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-flex-property-trades-for-8m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Flex Property Trades for $8M\" \/>\n<meta property=\"og:description\" content=\"Safe Harbor Exchange acquired the asset in a 1031 exchange. 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