Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-A back-up buyer has picked up the play for the 1.5-million-sf Belden Wire & Cable Co. property, laying $21.8 million on the line for a manufacturing site with a $100-million replacement value and 30 extra acres of developable land. The 95-acre asset, listed at $25 million, lingered eight months on the market before going under contract and then falling out of escrow.

Van Buren Partners LLC’s quick-close offer won the 505 N. 51st Ave. deed. “We had the property had in escrow to a user, which ended up bailing out,” Steve Mardian with Grubb & Ellis

Dig Deeper


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 © 2019 ALM Media Properties, LLC. All Rights Reserved.