March 5, 2018 Comments Off on JLL Brokers Sale of Phoenix Industrial Asset Views: 2544 National News, Phoenix & Southwest News, Southwest

JLL Brokers Sale of Phoenix Industrial Asset

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The Living Spaces Showroom and Distribution Center in Phoenix has traded hands in an off-market transaction. The 437,234-square-foot, Class A industrial asset was acquired by Los Angeles-based Cohen Asset Management for a reported $35 million.

The institutional, distribution facility includes 122,850 square feet of showroom space situated on 24 acres of land fronting the Interstate 10 freeway. The building was purchased in a 12-year sale-leaseback transaction with Living Spaces Furniture, LLC, which will occupy 100% of the property at 6600 West Latham St.

JLL Capital Markets’ team on the sale included Mark Detmer, Bo Mills, and Ryan Sitov.

“The building is fully leased to a great tenant, who chose this location for its freeway frontage and proximity to Phoenix’s growing population base,” said Detmer.

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