Westfield Company Inc. & RGA ReCap Incorporated Sell Fairway Commerce Center In Avondale For $89.8M

The property asset involved in this transaction is a distribution facility located at 12250 West Corporate Drive in Avondale, AZ. This industrial asset encompasses a total square footage of 450,260 and was sold for $89,800,000, translating to a price per square foot of $199. The property is currently under a 10-year USPS triple-net lease, indicating stable income and long-term commitment from a significant tenant.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $89,800,000
• Address: 12250 West Corporate Drive
• Market: Avondale, AZ
• Square Footage: 450,260
• Price per Square Foot: $199
• Seller: Westfield Company Inc. & RGA ReCap Incorporated
• Brokers: Ben Geelan, Greer Oliver, Bryce Beecher & Virginia (Gigi) Martin - JLL

This transaction involved key players from JLL, the brokerage firm facilitating the sale. The brokers who represented the sellers were Ben Geelan, Greer Oliver, Bryce Beecher, and Virginia (Gigi) Martin. They successfully closed on this notable industrial deal, which is recognized as one of the top transactions in the West Valley for the year.