CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield Brokers Sale of Phoenix Facility Leased to Major Communications Company for $8.4 Million

7/15/2020
PHOENIX, Ariz., July 15, 2020 – Cushman & Wakefield announced today the firm has brokered the net-leased investment sale of a freestanding 40,720-square-foot industrial/flex building in Phoenix, Arizona.

17602 Black Canyon HwyThe buyer was Orange County, Calif.-based Safe Harbor Exchange, Inc., which acquired the property for $8.4 million as the upleg of its 1031 Exchange. The single-tenant facility is fully leased to one of the largest cable providers in the US that has occupied the property for more than 20 years.

The seller was Scottsdale-based VJ Black Canyon LLC, an entity controlled by VJ Properties, Inc., which was represented by Paul Boyle and Rick Danis of Cushman and Wakefield’s Phoenix office.

“This was a very attractive investment property fully leased to a major communications company that has provided stable occupancy for decades, and through multiple downturns,” said Paul Boyle, Executive Director. “Furthermore, recent improvements in 2018 and 2019 were made in both the technology and common areas of the tenant’s space, while one of the company’s key divisions also operates in the facility, illustrating the commitment and critical nature of this facility for the tenant.”

Located at 17602 N Black Canyon Highway in the region’s Black Canyon submarket, the property comprises an on-site call center, service center, broadcasting, and research and development. The property is also centrally located with immediate freeway access to Interstate 17 and Loop 101.

Boyle added, “The property’s Interstate 17 corridor location is an area with established corporate presence and an abundance of amenities, including restaurants, retail services and hotels.”

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

Contact/Author

Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • Costa Mesa

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS