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PHOENIX-Following a 12-year hold, Southbank Investments LLC and Caldwell Southbank Real Estate LLC sold a 130,282-square-foot, single-tenant high-tech, research and development building to Canadian buyer Artis Real Estate Investment Trust. Artis paid $19.7 million to the San Fransisco-based seller for the asset, which is the American headquarters and global training center for ASM, a subsidiary of ASM International NV.

According to Mindy Korth with CBRE, the sellers had acquired the building in 2001 from the developer which, in turn, had built the facility at 3440 E. University Dr. in the 300-acre Southbank Business Park as a build-to-suit for ASM, a global semiconductor equipment manufacturer and distributor. Korth and CBRE colleague Barry Gabel represented the selling partners in the transaction.

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