Press Release

CBRE Arranges Sale of Redeveloped Industrial Building in Phoenix for $5.05 Million

26 6月 2018

2250-W-Peoria

CBRE announced the sale of a redeveloped industrial facility located at 2250 W. Peoria Ave. in Phoenix. The former home to the Bryman School of Arizona commanded a sale price of $5.05 million.

Cooper Fratt and Ashley Brooks with CBRE Phoenix represented the seller, James Greaves of G2 Capital. Chris Keely with Phoenix Commercial Brokers represented the buyer, Candlewood Industrial Park.

“Working with Cooper and Ashley, we put together a plan to redevelop the property to meet the rising demand for industrial space,” said Greaves.

In July 2017, G2 Capital acquired the 72,072-square-foot former school building and completed a six-month redevelopment of the nearly 4.28-acre site. The property now boasts 52,072 square feet of warehouse space along with nearly 20,000 square feet of Class A office space. After G2 Capital completed the redevelopment, the property entered escrow in less than three months.

“With a tightening industrial market, we identified several prospects and chose a buyer quickly,” said CBRE’s Fratt.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.