Cushman & Wakefield Negotiates $6.6 Million Sale on Behalf of Black Equities
PHOENIX, Arizona – Cushman & Wakefield announced that Phoenix-based Presson Corporation purchased Van Buren Industrial Center. Black Equities of Beverly Hills, Calif. sold the property, located at 34–74 N. 45th Avenue in Phoenix, for $6.6 million.
Bob Buckley, Tracy Cartledge and Steve Lindley of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
Van Buren Industrial Center is a 173,888-square-foot industrial complex in southwest Phoenix. The multi-tenant building, built in 1982, features 16–22-foot clear heights, dock-high doors in all suites, and evaporative-cooled warehouse space. At the time of sale, the building was 57-percent leased.
“Van Buren represented the opportunity to acquire a project at an attractive basis that will be able to capitalize on the continually improving market dynamics in Phoenix,” said Buckley.