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KINGMAN, AZ-An investor who took a chance on an unconventional deal will reap a 9.3% cap rate on a 49,500-sf metal general industrial building in a growing western Arizona city.

C&M Family Investment LLC, which purchased the single tenant property for $2.4 million from Kingman Interstate LLC, bought the building at 4400 Interstate Way, but not the land underneath. The acreage is owned by the building’s tenant, Interstate West, a leading manufacturer of cargo trailers, which also holds a 15-year lease for the building.

“It was an unique situation,” Rick Danis with Grubb & Ellis

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