Buyer to Renovate and Reposition Asset for Market
Phoenix, Ariz. - CBRE has completed the sale of a Southbank Business Center located at 3279, 3401, 3411 and 3421 E. Harbour Dr. in Phoenix. Financial terms of the sale of the four-building, 108,285-square-foot industrial/flex property were not disclosed.
Mike Parker and Evan Koplan with CBRE’s Phoenix office represented the buyer, Newport Beach, Calif.-based Turner Real Estate Investments. The seller, Jupiter Holdings, LLC, also of Newport Beach, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE.
“Turner Real Estate Investments was relentless in the pursuit of these buildings. The company was extremely thorough and diligent throughout the process and performed as expected at the close of escrow,” said CBRE’s Parker. “Turner is in the process of renovating and repositioning the buildings in the market on a for-sale and for-lease basis, and the property is already garnering activity from prospective users.”
The corporate image business park property at 3279-3421 E. Harbour Drive in Phoenix features 108,285-square-feet of flex/industrial space. The property benefits from a central location, proximity to hotels and adjacency to Phoenix NAP data center. Southbank Business Center also features excellent accessibility via the I-10 Freeway as well as proximity to Sky Harbor International Airport, downtown Phoenix and downtown Tempe.