Cushman & Wakefield Sells Class A, Four Building Industrial Park
PHOENIX, Arizona – Cushman & Wakefield completed the sale of Seventy5 Business Park, located at 7150 W. Roosevelt Street in Phoenix. RREF III-P Seventy5, LLC of Lakeway, Colo. purchased the property from Roosevelt Business Park Phoenix, LLC of Newport Beach, Calif.
Paul Boyle, Rick Danis, Gary Anderson and Mike Gilbert, with Cushman & Wakefield, brokered the $22.4 million deal on behalf of both the buyer and seller.
“Seventy5 Business Park fills a hard to find niche, offering smaller sized units in a submarket that is dominated by large, big box distribution centers,” said Boyle.
Built in 2006, Seventy5 Business Park is a four-building industrial park totaling 222,396 square feet (SF) and situated on 14.38 acres. The Class A, multi-tenant industrial property is currently 90% leased and offers grade level and truckwell loading, monument signage on I-10 and 18’ clear height.
Seventy5 Business Park is located in the Southwest Phoenix submarket, the largest industrial submarket in the Valley. With 1,300 feet of frontage on I-10, Seventy5 Business Park is highly visible. The property is easily accessible from 67th & 75th Avenues, both of which have full-diamond interchanges and construction is underway for full interchange access to the Loop 202 scheduled for completion in 2019/2020.