Cushman & Wakefield Negotiates $6.6 Million Sale on Behalf of Black Equities
PHOENIX, Dec. 11, 2018 – 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.
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 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 on Twitter.