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

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.