PHOENIX—Southbank Business Center located at 3279, 3401, 3411and 3421 E. Harbour Dr. in Phoenix was sold. Financial terms of thesale of the four-building, 108,285-square-foot industrial/flexproperty were not disclosed.

Mike Parker and Evan Koplanwith CBRE's Phoenix office represented the buyer,Newport Beach, Calif.-based Turner Real EstateInvestments. The seller, Jupiter Holdings,LLC, also of Newport Beach, was represented byLuke Walker, Dave Carder andEric Schultz of CBRE.

“Turner Real Estate Investments was relentless in the pursuit ofthese buildings. The company was extremely thorough and diligentthroughout the process and performed as expected at the close ofescrow,” says CBRE's Parker. “Turner is in the process ofrenovating and repositioning the buildings in the market on afor-sale and for-lease basis, and the property is already garneringactivity from prospective users.”