Transaction Completed Within 30 Days of Listing
Phoenix, Arizona – The industrial facility that serves as headquarters and manufacturing facility for Legends Furniture Inc. at 10300 W. Buckeye Rd. in Tolleson, AZ has been sold for $16,350,000 ($72 PSF). The transaction was completed within 30 days of listing, fulfilling seller’s goal of a 2020 sale.
“This was an exciting and challenging sale, in that the seller wanted to close escrow during 2020 and provided us with just a 30-day listing agreement,” says Bob Broyles, senior vice president of Colliers International in Arizona. “We secured two cash offers within a couple of days from the listing being signed and selected a buyer that was able to close escrow on December 30. This transaction truly exemplifies the investor enthusiasm for Greater Phoenix industrial assets and our in-depth relationships with qualified investors.”
Stos Partners of Encinitas, CA purchased the property from BSE, LLC of Scottsdale. Broyles with Colliers International of Arizona and Jeff Hays of Commercial Properties Inc. cooperatively listed and handled the transaction. Legends Furniture will continue as the property’s single tenant.
The Legends Furniture facility is situated on 16.1 acres of land. The manufacturing/distribution facility contains 227,160- square-feet of space and was constructed in two phases. The original building was completed in 2005, containing approximately 130,000-square-feet. The building was expanded in 2016.