10/14/2008

First Industrial sells Phoenix Tech Center for $3.1M

by
Kachina Investments, LLC, has purchased the Phoenix Tech Center in Phoenix, Ariz., for $3.1 million from First Industrial Realty Trust.

First Industrial was represented by Bruce Calfee, Josh Wyss, Paul Boyle, Rick Danis and Pat Feeney of Grubb & Ellis/BRE Commercial while Kachina was represented by Steve Bodeman of DAUM Commercial.

The Phoenix Tech Center is located at 10220 S. 51st St. and sold with 6.5 percent capitalization rate. Built in 1986, the flex center contains 22,978 square feet and was 100 percent leased at the time of sale.

Address: 10220 S. 51st St., Phoenix, Ariz.

Size: 22,978 square feet

Built: 1986

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Filed Under: Mixed Use

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