PHOENIX – Denver-based Industrial Income Trust purchased a 302,640-square-foot distribution facility located at 9704 W. Roosevelt Rd. Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley BRE Commercial, a leading commercial real estate services provider in the U.S., negotiated the $15.16 million ($50.10 per SF) cash sale on behalf of the owner, Prologis of Denver.
Prologis purchased the distribution facility in 2011, (the property was vacant at the time of purchase) and proceeded to sign a three year lease for the entire building to The TJX Cos. of Framingham, Mass. TJX Cos. is the parent company of TJ Maxx and Marshalls. TJX Cos. will be relocating to a yet-to-be-developed distribution facility at 55th Avenue and Lower Buckeye Road.
Executive Vice Presidents Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley BRE Commercial’s Capital Markets Group, represented the seller during the transaction. For more information visit www.brephoenix.com or call 602.954.9000.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit http://www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services in Phoenix through Cassidy Turley BRE Commercial. The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management. The firm was ranked No. 1 in the Commercial Real Estate Brokers list of the Phoenix Business Journal’s 2010 and 2012 Book of Lists.