(NEWS RELEASE)
Cushman & Wakefield, a global leader in commercial real estate services, announced today that Mangat Investments I, LLC has purchased a 40,081 square foot freestanding industrial building on 3 acres of land at 7138 N. 110th Ave. in Glendale, AZ, for $2.0 million. It also purchased 4.52 acres of additional land adjacent to the building at 7100 N. 110th Ave. for $390,000.
Cushman & Wakefield Vice President Louis Finocchiaro, SIOR, negotiated the sale transaction on behalf of the sellers, Jack Berg Family LP.
Mangat purchased the distribution/logistics property, which was built in 1993, with plans for Super Logistics, an entity of Mangat, to occupy the building in 2016. The property is leased through December 31, 2015.
“Mangat was interested in keeping the Super Logistics operation in the West Valley, and this property perfectly suited the needs of the company,” said Mr. Finocchiaro. “With the extra land purchase, they also have the flexibility desired to manage future growth needs.”
