Cushman & Wakefield Negotiates $5 Million Transaction

PHOENIX, Feb. 2, 2017 – Cushman & Wakefield announced today the $5 million sale of an industrial property located at 1620 West Knudsen Drive in Phoenix. A California-based 1031-Exchange investor purchased the 41,073-square-foot building from P&P Stewart Investments, LLC of Flagstaff, Arizona.

Cushman & Wakefield’s Executive Directors Rick Danis and Paul Boyle represented the seller. Brian Gleason of Phoenix West Commercial represented the buyer.

The single-tenant industrial/manufacturing building is currently 100% occupied by Noranco Manufacturing (U.S.A) LTD, a subsidiary of Berkshire Hathaway. Built in 1999, the property is located on ±3.14-acres in Phoenix’s Deer Valley submarket.

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 and occupiers 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.