Asset changes hands for $7.2M to serve Phoenix expansion
Staff Reports | Digital Free Press
Cushman & Wakefield has announced the firm has brokered the sale of a freestanding 40,794-square-foot industrial-distribution building in Phoenix.
Refrigeration Supplies Distributor, a California-based company, acquired the property at 3935 W. Adams St. for $7.2 million, according to a press release.
The seller was BECMED, LLC, the release states.
Michael Kitlica and Jason Ward of Cushman & Wakefield represented the buyer in the transaction.
“After an extensive search, an off-market opportunity presented itself to acquire this asset at well below replication costs,” Mr. Kitlica said in a prepared statement. “3935 W. Adams was a vital addition to RSD’s portfolio to serve their Phoenix expansion needs.”
Strategically located a few blocks south of the Interstate 10 and 43rd interchange, the property features 24-foot clear height, dock-high loading and secured fenced yard. The property is found in close proximity to several major freeways including Interstates 10 and 17 and Loop 202.