West Phoenix Industrial Building Sells for $30.7 Million
A sizable industrial building located at 7400 W. Buckeye Rd. has been sold for $30,700,000. Cohen Asset Management of Los Angeles has purchased the property from Kansas City Life Insurance Co.
“This is the second building Cohen has purchased from this seller,” says Payson MacWilliam, executive vice president of Colliers International in Arizona. “Kansas City Life Insurance developed two very successful buildings in this market, the first of which was purchased by Cohen in 2015. The transaction went so well that both parties were eager to complete another deal. The process to final sale ran into a few speed bumps along the way, including the onset of a global pandemic, but the fundamentals of the business relationship and sale agreement prevailed.”
Payson MacWilliam, Don MacWilliam and Chris Reese of Colliers International in Arizona handled the sale transaction.
The industrial facility located at 7400 W. Buckeye Rd. contains 325,800 square feet of space. The building is fully occupied by OnTrac, a privately held logistics company, and LA Specialty produce company.