Cushman & Wakefield and Lee & Associates Complete Sale to California Investor

PHOENIX, Sept. 25, 2017 – On behalf of Los Angeles-based Cohen Asset Management, Cushman & Wakefield and Lee & Associates completed the sale of an 188,142-square-foot industrial building located at 7822 S. 46th Street in Phoenix. Bailard of Foster City, Calif. purchased the property for $16.1 million.

Will Strong of Cushman & Wakefield, along with Rick Lee and Conner Lee of Lee & Associates, represented both parties in the deal.

The state-of-the-art industrial/flex building, situated on approximately 11.3 acres, is 100% leased to BAE Systems. Located in the highly desirable Phoenix Sky Harbor Airport submarket, this is one of the most recognizable assets in the area due to its long-term credit tenancy, high-profile location, quality high-tech interior improvements and proximity to major freeways.

The property was initially acquired by Cohen Asset Management in 1992. This property was the first of many investments made by Cohen in the Phoenix market and was the start of the company’s 35 acquisitions in the Phoenix marketplace.

“The sale of BAE Systems 46th Street building represents continued demand for well-located industrial product leased to investment grade tenants in Metro Phoenix. It has been institutionally owned, managed and maintained by one of the largest and most active investors of industrial real estate in the city,” said Will Strong.

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 45,000 employees in more than 70 countries help occupiers and 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 $6 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. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.

About Lee & Associates

Lee & Associates specializes in providing exceptional commercial brokerage services to the industrial, office, land and investment sectors of the Phoenix commercial real estate market. Each of the nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network. For more information, visit www.lee-associates.com.