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Cushman & Wakefield Negotiates 109,143 SF Sale to Newport Beach Investor

PHOENIX, August 2, 2016 – Cushman & Wakefield announced today that Arcadia Corporate Park, located at the northeast corner of McDowell Road and 48th Street, sold to WLA Investment of Newport Beach, Calif. for $7.5 million.

Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan with Cushman & Wakefield represented the seller in the transaction, Phoenix-based Presson Companies.

Arcadia Corporate Park is an eight-building, multi-tenant industrial complex totaling 109,143 square feet. Built in 1981, the property features grade-level loading doors servicing each suite and 14 ft. to 16 ft. clear height in warehouse areas.

“In Arcadia Corporate Park, WLA saw an opportunity to acquire a quality, well maintained multi-tenant industrial complex located in an infill location with virtually no sites available to build competitive new product,” said Buckley.

Encompassing 9.13-acres, Arcadia Corporate Park has excellent frontage on McDowell Road, one of the major east/west traffic corridors connecting Phoenix, Scottsdale and Tempe. “The exceptional curb appeal, with high-visibility creates strong location awareness to draw potential tenants and customers,” added Buckley.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.