Menlo Group Sells Arizona Industrial Portfolio for $2.7M
Menlo Group sold three fully leased industrial properties, located in Glendale and Yuma, Ariz.
Tempe, AZ, September 7, 2022–Menlo Group Commercial Real Estate is pleased to announce the successful sale of an Arizona industrial portfolio. The three fully leased properties sold for $2.7 million.
The properties are located at 5624 and 5632 N. 54th Ave. in Glendale, Ariz. and 14391 S. Ave. 2 3/4 E. in Yuma, Ariz. The three sites total approximately 6.5 acres.
All three properties are leased by SWP Contracting and Paving, making the industrial portfolio an attractive investment for the new owners.
“We are grateful to see this transaction brought to a successful close,” said Bobby Lall, representative for the sellers, LK Investment Group, LLC. “Menlo Group never fails to deliver results.”
Menlo Group Advisors Stuart Milne, CCIM, SIOR, and Tom Ellixson, CCIM, represented the sellers during the transaction. The buyers, Tri City Ready Mix, Inc. and Boyle Family Partnership, were represented by Jim Passey of Passey Realty and Investment.
“We have worked with sellers on a variety of commercial real estate transactions over the years,” Ellixson said. “The Arizona industrial market continues to heat up, and it’s exciting to see investors take advantage of these opportunities.”
About Menlo Group
Menlo Group is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services, real estate consulting, property management and project management. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. Please contact our industrial team to discuss your commercial real estate needs.