PHOENIX, ARIZONA -- CBRE has arranged the sale of an 18,006-square-foot freestanding industrial warehouse located at 130 N. Pasadena Street in Gilbert, Arizona for $2.33 million. The seller was Imagine Manufacturing LLC and the buyer was DS Electronics, an owner/user that purchased the property to expand its local operation.
Mike Parker of CBRE in Phoenix represented the buyer and seller in the transaction.
“This was a unique transaction in that the buyer and seller are direct, yet friendly, competitors and DS Electronics was looking to expand its manufacturing footprint.” said CBRE’s Parker. “Given that the building was designed for electronic assembly operations, it fit like a glove for the buyer in terms of both use and location. We were able to complete the transaction smoothly and it turned out to be a win-win for both buyer and seller.”
Image Manufacturing, LLC will relocate to EastGroup Properties’ Gilbert Crossroads Business Park at 425 E. Built in 1997 and situated on 1.5 acres, the air-conditioned warehouse features 4,870 square feet of office space, 18-foot clear height, two grade-level doors and 65 parking spaces. It is also conveniently located near several major freeways, including State Route 87, the U.S. 60 and the Loop 101 freeway.