Phoenix, Arizona – CBRE is pleased to announce that Cooper Fratt has been elevated to vice president. Fratt, an advisory and transaction professional with the firm’s industrial and logistics practice, has earned the title change in just 13 months.

“I am very proud of Cooper and thrilled to congratulate him on his promotion to vice president,” said Craig Henig, senior managing director, Southwest Region and Arizona market leader. “In just a few short years, Cooper has established himself as one of the best young brokers in the industry. His dedication to creating exceptional client outcomes, his work ethic, and his respect for everyone he encounters are just a few reasons for his success. I look forward to watching his career progress.”

Fratt began his real estate career in 2008 when he started with CBRE’s research department. In 2011 he joined a team that includes Senior Vice Presidents John Werstler and Jerry McCormick. Now, just five years later he has been involved in more than 3 million-square-feet of industrial leasing transactions and 1.5 million-square-feet. of industrial sale transactions.

In addition to Fratt’s quick ascension within CBRE’s advisory and transaction ranks, his hard work is regularly recognized by others in the industry. Over the course of his career, he has been the recipient of several notable industry awards, including Best of NAIOP Arizona’s 2015 “Emerging Broker of the Year,” Best of NAIOP Arizona’s 2013 “Rookie Broker of the Year” and 2012 CoStar Power Broker Award. He was also a finalist for NAIOP’s 2013 “Developing Leader of the Year” award.

PHOENIX AZ – A 352,415-square-foot, Class A distribution/manufacturing building at 5125 E. Madison St., Phoenix, sold for $14.7 million in a September 4 transaction. Price per square foot was posted at $41.71.

Stein Koss and Tom Louer, both principals with Lee & Associates and Tony Lydon of JLL negotiated on behalf of the seller, SunChase Holdings, Inc., a Scottsdale corporation. The buyer, Pinnacle Films Corp., a Delaware corporation was represented by John Werstler and Jerry McCormick of CBRE.

The Phoenix manufacturing building sits on 15.75 acres and features 30’ ceiling height, 39,000-square feet of office, 37 dock high and 11 grade level doors, covered rail dock with 9 single wide, 4 double wide and 1 triple wide doors, heavy power and sprinklers. The freestanding building also features 3,000-6,000a/277-480v heavy power and has 297 surface parking spaces.

The property is located in the sought-after Phoenix Sky Harbor submarket and surrounded by the busy Loop 202 Red Mountain Freeway and the SR-143 Hohokam Expressway and directly east of the Phoenix Sky Harbor International Airport runway.

For more information, contact the Koss/Louer team: Stein Koss at 602.912.3520; and Tom Louer, at 602.954.3779.

Telgian, Inc. Doubles Operational Footprint, Will Relocate Corporate HQ

Phoenix, AZ – CBRE has negotiated the purchase of the Phoenix Tech Center property located at 10230 S. 50^th Place in Phoenix. The buyer, Telgian, Inc., will relocate its corporate headquarters to the new facility.

Cooper Fratt, John Werstler and Jerry McCormick brokered the transaction on behalf of Telgian, helping the fire-industry leader accommodate the company’s growing operation as well as completing a 1031 Exchange in the process.

“Telgian is an industry leader and was in need of a larger facility due to growth the company has experienced in recent months,” said CBRE’s Fratt. “Given the current supply of available product on the market, it was a challenge to line up the timing of both transactions. However, we were able to overcome those challenges. The Phoenix Tech Center facility fits all of Telgian’s expansion needs and will also accommodate additional growth in to the future.”

Previously located in a 20,000-square-foot property located at 2615 S. Industrial Park Avenue in Tempe, Telgian’s new facility totals more than twice that at 40,650-square-feet and will house the company’s corporate headquarters.

Prior to purchasing the Phoenix Tech Center property, the CBRE agents represented Telgian in the sale of the 2615 S. Industrial Park property, which was sold to Medone Healthcare, LLC of Tempe for $1.54 million. Telgian was then able to purchase the Phoenix Tech Center facility via a 1031 exchange for just over $3.65 million.

To learn more Fratt should be contacted at 602.735.5555, Werstler can be reached at 602.735.5504, and McCormick can be called at 602.735.5265.