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3600 East University Drive
SOLD

Initial Development Acquires Executive Center At Southbank In Phoenix For $14M

3600 East University Drive

Industrial
141,000 SF
clock iconSold 54 days ago
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Summary

Sale
ARIZONA
Industrial
141,000 sqft

The Executive Center at Southbank, a 141,000-square-foot business park located at 3600 East University Drive in Phoenix, AZ, was acquired by Initial Development for over $14 million from LBA Realty.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $14,000,000
  • Acres: 15
  • Price Per Square Foot: $99
  • Buyer: Initial Development
  • Seller: LBA Realty

Initial Development finalized the purchase of the business park, cementing the transaction in the real estate market of Phoenix, AZ. The acquisition signifies a significant investment by Initial Development as they expand their property portfolio in the area.

Details

Deal Summary
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SOLD
IMAGE: 05/20/2024 ADDRESS: 3600 East University Drive MARKET: Phoenix, AZ ASSET TYPE: Industrial ~ ACRES: 15 BUYER: Initial Development SELLER: LBA Realty SALE PRICE: $14,000,000 SF: 141,000 ~ PPSF: $99 NOTE: Initial Development acquired the Executive Center at Southbank, a 141,000-square-foot business park, for over $14 million from LBA Realty.

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Address3600 East University Drive

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