Phoenix, Ariz. – CBRE has announced that Associate Cooper Fratt has been appointed to the Board of the Discovery Triangle Development Corporation (DTDC). The DTDC deploys its expertise redevelopment in the Discovery Triangle, an asset-rich urban region between Phoenix, Tempe and Papago Park.

“I am honored to represent CBRE on the Discovery Triangle Development Corporation Board. As a company, we believe strongly in redeveloping and reinvesting within the Triangle and I am looking forward to working towards those initiatives on behalf of CBRE,” said Fratt. “Vibrant, well-planned urban environments in which people can truly live work and play are essential to the economic development and health of metro areas, and the DTDC is working to strengthen metro Phoenix’s urban core. It’s an exciting effort to be a part of.”

Fratt has a bachelor’s degree in finance from Gonzaga University in Spokane, Wash. In addition to his seat on the Discovery Triangle Development Corporation board, he is a member of NAIOP Arizona, where he serves on the Developing Leaders Membership Committee. He is also a member of the Westmarc Economic Development Committee.

A brokerage professional who works on a team that specializes in industrial and high-tech markets, Fratt began his brokerage career in 2011. Now 2.5 years into his career, Cooper has been involved in over 1,000,000 square feet of industrial leasing transactions, 500,000 square feet of industrial sale transactions and 120 acres of industrial land. His commercial real estate experience and market knowledge will be valuable resources to the work of the Discovery Triangle Development Corporation.

The Discovery Triangle Development Corporation leverages its expertise in redevelopment, public financing, incentives and market knowledge to help projects succeed in the Discovery Triangle. Working to identify, develop and market opportunities for creative infill solutions within the region, DTDC helps to ensure new projects can be launched speedily and efficiently.

“CBRE has been a partner of the DTDC since day one. The company, and Cooper specifically, bring expertise and market knowledge that help us be successful. We are honored that they are committed to this long term partnership,” said Don Keuth, CEO of the DTDC.

Chrisman Lock Chiang purchased 88,774-square-feet in two-building industrial buildings at 43 N. 48th Ave. in Phoenix, AZ to owner occupy. The all-cash transaction totaled $2.5 million ($28 PSF).

Jerry McCormick and Cooper Fratt of CBRE’s Phoenix office represented the seller, Atkinson Land Holdings LLC of Mesa, AZ. The buyer, Chrisman Lock Chiang, a La Habra, Calif.-based tool and manufacturing company, was represented by John Soldo and Leroy Breinholt of Commercial Properties Incorporated in Tempe, Ariz.

“This sale is another excellent sign that manufacturing users are becoming more active in Phoenix,” said CBRE’s McCormick. “This is also another indication of those companies leaving California for locations in Arizona.”

Located in the southwest valley submarket, the industrial property sits on a four-acre lot. Comprised of two buildings (totaling 56,274-square-feet and 32,500-square-feet each), the 88,774 square-foot complex features 2,434 square feet of office space and clear heights of 18-24 feet. The property was 100% vacant at time of sale. The new owner/user is currently making improvements to the property prior to occupancy.

McCormick should be contacted at (602) 735-5265 and Fratt can be reached at (602) 735-5555. Soldo and Breinholt are at (480) 966-2301.