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Regent Properties Sells Flex Industrial Portfolio In Phoenix For $22.5 Million

Property Image
SOLD
$22,500,000
Geoffrey Turbow
Anthony DeLorenzo
Ashley Brooks

Arizona

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Industrial248,616 SF
Sold 09/11/2025
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Property Image
SOLD

Regent Properties Sells Flex Industrial Portfolio In Phoenix For $22.5 Million

950 West Behrend Drive & 960 West Behrend Drive

See Similar Deals
Industrial248,616 SF
Sold 09/11/2025
Geoffrey Turbow
Anthony DeLorenzo
Ashley Brooks
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$90
Total Square Footage:248,616 SF
Transaction Type:Sale

This transaction involved a two-building, flex industrial office portfolio located at 950 and 960 West Behrend Drive in Phoenix, AZ. The asset spans a total of 124,308 square feet and was sold for $22,500,000, translating to a price per square foot of $181.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $22,500,000
  • Square Footage: 124,308
  • Address: 950 & 960 West Behrend Drive
  • Market: Phoenix, AZ

The transaction was brokered by Geoffrey Turbow, Anthony DeLorenzo, and Ashley Brooks of CBRE. The seller of the properties was Regent Properties. The buildings are currently leased to tenants including American Defense Structures, Super Star Car Wash HQ, and Paradise Behavioral Health.

Players

Anthony DeLorenzo
CBRE
Anthony DeLorenzo
118 deals$2B volume
BROKER
Geoffrey Turbow
CBRE
Geoffrey Turbow
11 deals$196.2M volume
BROKER
Ashley Brooks
CBRE
Ashley Brooks
2 deals$49.3M volume(602) 615-1087
BROKER
CBRE
CBRE
BROKERAGE
Regent Properties
Regent Properties
SELLER

Details

SOLD
IMAGE: 09/11/2025 ADDRESS: 950 & 960 West Behrend Drive MARKET: Phoenix, AZ ASSET TYPE: Industrial SELLER: Regent Properties BROKERS: Geoffrey Turbow, Anthony DeLorenzo & Ashley Brooks - CBRE SALE PRICE: $22,500,000 SF: 124,308 ~ PPSF: $181 NOTE: CBRE brokered the $22.5 million sale of a two-building, 124,308-square-foot flex industrial office portfolio in Phoenix’s Deer Valley submarket. A private investor acquired the properties at 950 and 960 West Behrend Drive, which are leased to tenants including American Defense Structures, Super Star Car Wash HQ, and Paradise Behavioral Health.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75