PHOENIX, AZ – Parc 17, a three-building, 177,770-square-feet industrial park at 1800 - 1880 S. 7th Ave., Phoenix, sold for $16.1 million ($90.57 PSF) in an off-market transaction.
Principals Stein Koss, Tom Louer and Associate Nick Nudo of the Koss | Louer Team at Lee & Associates, represented both the buyer, Colfi n Industrial Acquisitions, LLC (Colony Northstar), Dallas, TX and the seller, Jackson-Shaw Co., also of Dallas.
“This was a excellent play for Colony Northstar. Parc 17 is a great compliment to their existing Phoenix portfolio,” Koss commented.
Built in 2015, the multi-tenant property consists of three buildings, 101,310-square-feet, 31,871-square-feet and 44,589-square-feet of distribution/warehouse buildings. It features I-17 Freeway frontage at the full diamond 7th Ave. exit, access to all major Valley freeways and one-day proximity to the top distribution centers in the Western United States. All buildings feature dock high and grade level loading capabilities, and offers excellent individual tenant identity with freeway signage opportunities.
The Koss | Louer team will retain its leasing assignment with the new ownership.
For more information, Koss can be reached at 602.912.3520; Louer should be called at 602.954.3779; and Nudo is at 602.954.3773.