Omnibus AC & Cutting Edge, an Over 12,000-SF Industrial Property in Phoenix Sells for $1.475 Million

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PHOENIX, Arizona Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Omnibus AC & Cutting Edge, a 12,003-square foot industrial property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,475,000 ($123 PSF).

Jay Krew, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “The seller was looking forward to the next phase of life and was ready to move on from the property,” Krew explained. “By positioning the asset as an outstanding value for an irreplaceable property and location, we were able to generate multiple offers and go under contract after only three days on the market.”

The buyer, an individual/personal trust in a 1031 exchange, was also procured by Krew by marketing to Marcus & Millichap’s large pool of investors. “The buyer was looking for a quality investment in the Deer Valley Airpark with high barriers to entry,” Krew stated.

Omnibus AC & Cutting Edge is located at 23107 North 21st Avenue in the Deer Valley Airpark submarket in Phoenix, Arizona. Built in 2004 and situated on a 0.93-acre lot, this two-tenant industrial property includes three drive-in doors, two fenced and paved yards, and 16 feet of clear height.

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