Commercial Properties Inc./CORFAC International Announces the Sale of a 96,723 SF Industrial/Flex Portfolio in Phoenix, Arizona
Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of Broadway Commerce Center in Phoenix, Arizona. Built in 1987, the 96,723 square foot industrial/flex property portfolio is conveniently located off I-10 at 40th Street and Broadway Road on the Southeast corner of the intersection.
Tyson Breinholt’s team and Leroy Breinholt of CPI represented both sides on this portfolio sale for owners C. Leroy & Glenna Breinholt. Tyson commented, “This was a challenging transaction with a land lease in place that required an organized approach. Our team kept all parties informed throughout the process of having the land lease assigned to the new buyers. The land lessor worked closely with us, the sellers, and the new buyers which ultimately made this a smooth transaction.”
Kia Ora, LLC, from California purchased the portfolio for $4.975 million in a 1031 exchange.
About Commercial Properties Inc./CORFAC International
Established in 1981, Commercial Properties Inc./CORFAC International is a full-service brokerage and property management firm for all product types of commercial real estate. Headquartered in Tempe, the company has more than 65 brokers and is operating throughout the Phoenix metropolitan area. Currently, CPI’s listings include over 21.6 million square feet for sale/lease with more than 197 projects and associations under management, totaling over 13.2 million square feet.
