November 22, 2024 4:31 am
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So. Calif. investor spends $14.7M for newly built logistics center in Phoenix

Canal Crossing Logistics Center

Canal Crossing Logistics CenterBy Business Real Estate Weekly

A company formed by Bixby Land Co. in Irvine, Calif. (William Halford, pres.) paid $14.7 million ($94.62 per foot) to buy a 155,351-square-foot distribution building within the Canal Crossing Park industrial project located at 5670 S. 32nd Street in Phoenix. The seller was Conor Globe-Canal Crossing LLC, a venture formed by Conor Commercial Real Estate in Phoenix and Globe Corp. in Scottsdale (George Getz, principal).

The deal was brokered by Allen Lowe and Jeff Conrad of Lee & Associates Arizona Inc. in Phoenix and Chris Toci and Chad Littell of Cushman & Wakefield of Arizona Inc. in Phoenix. Maricopa County records show Bixby SPE Finance 6 LLC acquired the project in a cash transaction. The institutional grade, dock-high structure is 70 percent occupied. Lowe and Conrad have been leasing the newly-built facility and will continue with that assignment.

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