PRINCETON, NJ-Sovereign Investment Co., based here, has sold the three-building, 94,076-sf Canyon State Oil portfolio for just less than $11.3 million, or about $120 per sf. The buyer was Herman Investment Co., a Pittsburgh-based firm headed by Howard Engelberg.

A team of brokers from Marcus & Millichap represented Sovereign, a private equity investment firm headed by Peter M. Mavoides. For Marcus & Millichap, the participants were Brad Bailey, regional manager in San Antonio; John Vorsheck, regional manager in Las Vegas; Ray Fontaine, a senior associate in Phoenix; and investment sales specialist Daniel Kahn, also in Phoenix. Scott Engelberg of Prudential Realty secured the buyer.

The three properties, which combine office and industrial space, include 10925 Marconi Ln. in El Paso, a 23,500-sf asset that sold for $2 million. The second is 9052 Yosemite Ave. in Henderson, CO, a 43,000-sf building that fetched $4.5 million. And 4581 Eaker St. in North Las Vegas, 27,576 sf, went for $4.8 million.

Tenant Canyon State Oil is a Phoenix-based distributor of oil and other fuels.

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