Cushman & Wakefield Negotiates Sale on Behalf of the Seller

PHOENIX, Oct. 22,  2015 – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Mangat Investments I, LLC has purchased a 40,081 square foot freestanding industrial building on 3 acres of land at 7138 N. 110th Ave. in Glendale, AZ, for $2.0 million. It also purchased 4.52 acres of additional land adjacent to the building at 7100 N. 110th Ave. for $390,000.

Magnat Invest.Cushman & Wakefield Vice President Louis Finocchiaro, SIOR, negotiated the sale transaction on behalf of the sellers, Jack Berg Family LP.

Mangat purchased the distribution/logistics property, which was built in 1993, with plans for Super Logistics, an entity of Mangat, to occupy the building in 2016. The property is leased through December 31, 2015.

“Mangat was interested in keeping the Super Logistics operation in the West Valley, and this property perfectly suited the needs of the company,” said Mr. Finocchiaro. “With the extra land purchase, they also have the flexibility desired to manage future growth needs.”

The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. 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.