September 17, 2019
Mygrant Glass Co. Inc. paid $13.2 million for ownership rights to a 130,276-square-foot warehouse and manufacturing facility in Tempe, AZ. The new owner, which will occupy the warehouse at 550 W. Southern Ave., struck the deal with seller G2 Capital, which was represented by CBRE’s Cooper Fratt, SIOR, John Grady, John Werstler, SIOR and Jackie Orcutt.
G2 acquired the building in 2018, with plans to renovate the asset when former tenant Cascade Windows/Paramount Windows moved out. Situated on 9.8 acres, the property includes 80,000 square feet of warehouse space, 40,000 square feet of production space and 10,000 square feet of office space.
“G2 Capital was able to see the tremendous potential in this property and executed their plan perfectly” said CBRE’s Fratt. “Our activity was very strong throughout, which is a testament to the vision and work by G2 Capital as well as the Phoenix industrial market activity in general.”
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Tags: Acquisition, Industrial, OrgSIOR
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