(To read more on the industrial market, click here.)

YUMA, AZ-A build-to-suit with a long-term tenant is now the property of a Phoenix buyer, who has paid $12.67 million for the one-year-old Alside Distribution Center. The 222,554-sf building sits on a 90-year ground lease held by the tenant’s parent company in Cuyahoga Falls, OH.

Building developer Ryan Cos. US Inc. of Minneapolis sold the building at 7750 E. 30th St. because it’s a merchant builder as opposed to being a long-term investor, says Barry Gabel, executive vice president in Phoenix for CB Richard Ellis. “The market is good, interest rates favorable and it was an outstanding building with a great tenant,” he adds.

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