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Cushman & Wakefield Brokers Win-Win Sale of Phoenix Industrial Property in Off-Market Deal

4/29/2020
PHOENIX, Ariz., April 29, 2020 – Cushman & Wakefield announced today the firm has represented both parties in the investment sale of a freestanding industrial building in Phoenix, Arizona.

2655 E Magnolia St Denver-based DPC Companies acquired the fully occupied, 35,403-square-foot property located at 2655 E. Magnolia St for $2.825 million from Orange County-based BKM Capital Partners.

Robert Buckley and Tracy Cartledge with Cushman & Wakefield’s Phoenix office handled the transaction on behalf of the buyer and seller.

Robert Buckley, Executive Director, said, “This was a win-win situation for both sides. The Magnolia asset wasn’t consistent with BKM’s current investment strategy. They approached us to find a buyer who could accommodate their timing. We approached DPC Companies and determined that the property made for an ideal and strategic fit for their investment portfolio.”

(photo source CoStar

Buckley noted, “The transaction was not impacted as a result of the coronavirus pandemic, with both buyer and seller remaining fully committed to the sale.”

Situated on 2.56 acres, the single-tenant industrial building was constructed in 1984. The property is well located, with frontage on Interstate 10. The Phoenix Sky Harbor International Airport is also situated immediately across the interstate from the property.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

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Joshua Deale

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