Richard Scheinfeld Of Top Ten Properties Acquires Power Commerce Park In Gilbert For $55M

The property involved in this transaction is a Class A industrial asset located at 3380 South Power Road in Gilbert, AZ. It features a total square footage of 146,052 and was constructed in 2023. The sale price for this industrial property was $55 million, translating to approximately $376.57 per square foot. It is strategically positioned near the Elliot Road Tech Corridor and the Phoenix-Mesa Gateway Airport.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $55,000,000
• Address: 3380 South Power Road
• Market: Gilbert, AZ
• Square Footage: 146,052
• Price Per Square Foot: $377
• Buyer: Richard Scheinfeld - Top Ten Properties
• Seller: Dave Cavan - Cavan Commercial
• Brokers: Tyson Breinholt & Leroy Breinholt - Commercial Properties Inc./CORFAC International

Richard Scheinfeld represented Top Ten Properties in the acquisition of Power Commerce Park from Cavan Commercial, with Dave Cavan as the seller. The transaction included brokerage representation from Tyson Breinholt and Leroy Breinholt, who are affiliated with Commercial Properties Inc./CORFAC International.