A three-building downtown Phoenix industrial park sells for $16M in off-market deal

Parc 17 recently sold for $16M in an off-market deal. (Submitted photo)

Parc 17, a three-building downtown Phoenix industrial park, recently sold for $16,100,000 in an off-market transaction deal.

According to a press release, the 177,770-square-foot industrial park, built in 2015, is located 1800-1880 S. 7th Ave.

Principals Stein Koss, Tom Louer and Associate Nick Nudo of the Koss | Louer Team at Lee & Associates, represented both the buyer, Colfin Industrial Acquisitions, LLC (Colony Northstar), Dallas, Texas and the seller, Jackson-Shaw Co., also of Dallas.

“This was an excellent play for Colony Northstar. Parc 17 is a great compliment to their existing Phoenix portfolio,” Mr. Koss said in prepared statement.

The multi-tenant property consists of a 101,310-square-foot, 31,871-square-foot and 44,589-square-foot distribution warehouse buildings. It features I-17 Freeway frontage at the full diamond 7th Avenue exit, access to all major Valley freeways and one-day proximity to top distribution centers in the Western US, the release noted.

All buildings feature dock-high and grade-level loading capabilities, plus individual tenant identity with freeway signage opportunities.

The Koss | Louer team will retain its leasing assignment with the new ownership.

For more information, go to kosslouer.com.

 

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