November 16, 2016
A 452,271-square-foot industrial facility in West Phoenix that houses the Breakthru Beverage Group traded owners for $33.5 million. The sales price is one of the highest paid per square foot in the market. Don MacWilliam and Payson MacWilliam with Colliers International of Greater Phoenix brokered the transaction between buyer Cohen Asset Management and seller Breakthru, which had, in turn, acquired the property through a 2011 purchase option agreement with Crexus AZ Holdings 1 LLC.
Breakthru Beverage signed a new, 15-year lease with Cohen Asset Management to remain in the property at 1115 S. 47th Ave. The tenant is the largest wine and spirits distributor in Arizona, and was created in June from the merger of Alliance Beverage (which had occupied the building since 1999) and Breakthru Beverage.
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