Photo via Lincoln Property Company
By AZRE | AZ Big Media
Leading commercial real estate firm Lincoln Property Company (LPC) has announced the $68 million sale of a five-building industrial portfolio, representing 540,039 square feet of multi-tenant, fully leased infill space in key locations across the metro Phoenix, Arizona market.
The buildings are located at 4441 W. Polk St., 120 E. Watkins St., 4720 W. Van Buren St. and 5240 and 5302 W. Buckeye Rd. (Freeport Distribution Center). The portfolio buyer is KKR.
“These were the first building acquisitions I completed when we established the LPC Desert West office in Phoenix in 2001,” said LPC Senior Executive Vice President David Krumwiede. “They are a perfect example of our investment model, which is to purchase and build quality assets in excellent locations, and maintain them at the highest institutional level. We have owned and managed these buildings for decades, and timed their sale to maximize gains for our investment clients.”