X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-A $5.4-million, full-priced sale has bought a Goodyear investor a fully occupied, 64,151-sf general industrial building with a 20-year leaseback to its tenant, the property’s original owner.

King Ranch Properties picked up the 4501 E. McDowell Rd. building from Facilitec, a 20-year-old, locally based office interior design firm that was looking to infuse cash into its growing business, Marc Bonilla, with Colliers International tells GlobeSt.com. “They had some down years after 9-11 and in order to diversify, they pulled some money out of the real estate and put it back into the business,” he says of the former owner and now new tenant, who found a buyer for its general industrial property in just two months.

Bonilla says Facilitec will pay a lease rate of 60 cents per sf to 70 cents per sf to stay at its five-year address. He and Bob Broyles, also with Colliers International, represented the buyer in the transaction while Lance Ross and Nathan Thinnes, both with Cushman & Wakefield of Arizona Inc., handled the deal for the seller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.