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PHOENIX-A 1031 exchange buyer from Carlsbad, CA, has made his first acquisition in the Valley, paying $1.3 million for a single-tenant, 40,542-sf industrial building.

Bruce Beaton immediately tied up the property at 3255-3305 W. Osborn Rd. when it came on the market and paid cash, says Paul Boyle, a senior vice president with Grubb & Ellis

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