Phoenix - February 3, 2017 - CBRE has recently completed the sale of Santa Fe Logistics Center, a 367,963 sq. ft. industrial warehouse and distribution facility located at 4450 N. 45th Avenue in Phoenix, Arizona. The buyer was Greco & Sons, Inc., a national food distributor. The seller was Tratt Properties, a real estate developer/investor based in Phoenix, Arizona. Tony Lydon with JLL represented the buyer. The seller was represented by Pat Feeney, Daniel Calihan and Rusty Kennedy with CBRE's Phoenix office. Total consideration for the deal was $22.4 million.
The 367,963-sq.-ft. facility included a 112,669-sq.-ft. section leased to Hensley, a local Budweiser Distributor. Greco intends to occupy 130,787 sq. ft. immediately and to make the remaining 124,507 sq. ft. available for lease. Their long term intent is to grow into the other spaces as leases expire.
The LEED Certified distribution facility features 32' clear height and industrial-grade lighting, insulation and safety features. Additionally, the warehouse boasts direct access to several key Western U.S. markets, including Dallas, Denver, Las Vegas and the ports of Los Angeles and Long Beach via easy access to the I-17 and I-10 freeways.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.