St. Louis-based Belden recently sold its wire and cable division to a buyer who took the business, but not the Phoenix real estate. The Belden manufacturing and distribution facility, built in phases beginning in the 1960s, includes two electrical substations, a one million-gallon water storage capacity, access to multiple rail lines and a full diamond interchange at 51st Avenue and Interstate 10.
"We had Weitz Construction Co. come out and they put the replacement cost of the facility at $100 million," says Steve Mardian of Grubb & Ellis/BRE Commercial LLC, who is marketing the property with Tony Lydon and Marc Hertzberg. Mardian tells GlobeSt.com that he expects the facility to be purchased by an owner-user, but points out that a developer might have an interest in the property given the vacant acreage and industrial zoning.
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