Cushman & Wakefield Represents Buyer in Purchase of Showroom/Office Building
PHOENIX, Nov. 30, 2015 – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Phoenix-based Wentworth Property Company (“WPC”) purchased a ±42,281 square foot industrial property at 2077 E. University Drive in Tempe, AZ for $3.6 million. The seller was Essex Scot, LLC of Riverside, CA.
Andy Markham, SIOR, Mike Haenel, Will Strong and Phil Haenel of Cushman & Wakefield negotiated the sale transaction on behalf of the buyers, WPC. Dave Johnson and Jerry Marrell with Lee & Associates represented the sellers.
Located one-half mile south of Loop 101 on University Drive, the property includes ±16,184 square feet of office and showroom space and ±26,097 square feet of warehouse space with two truckwell doors. Built in 1997, the property sits on 2.69 acres and includes parking for 79 cars.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.