Avnet HQ, Phoenix

December 1, 2016 Comments Off on 176K-SF Avnet HQ Sells to a Cole REIT Views: 273 Arizona, National News, Southwest

176K-SF Avnet HQ Sells to a Cole REIT

Cole Office & Industrial REIT (CCIT II) Inc. acquired the 176,402-square-foot corporate headquarters of Avnet Inc. at 221 S. 47th St., in Phoenix. The Phoenix-based REIT paid Lexington Realty Trust of NY $32 million for the asset, according to public records.

Mindy Korth and Kirk Kuller with Colliers International negotiated the transaction on behalf of the seller. Lexington acquired the asset soon after it delivered in 1997, Korth said. “We are very pleased that CCIT II added the headquarters to its portfolio, once the seller was ready to divest of this mission-critical property,” she added.

The Avnet Global Headquarters building is on 11.3 acres, and has a solar array on the building and parking structures. The array provides approximately one megawatt of power to the facility.

Connect with Colliers’ Korth

Connect with Colliers’ Kuller

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , , ,

Comments are closed.