Dealmaker: Cushman & Wakefield Brokers $19.3M in Industrial Sales

Cushman & Wakefield, Chicago, closed $19.3 million in industrial property sales in North Carolina and Arizona.

Cushman & Wakefield Senior Associate Nolan Ashton and Managing Director Rob Cochran of the Capital Markets team and Director Fermin DeOca from Cushman’s Industrial Services Team represented seller Beacon Partners, Charlotte, when it sold a fully leased industrial building in Catawba, N.C. for $11.3 million. STAG Industrial, Boston, acquired the property.

“Industrial real estate remains a favored asset class for investors,” Ashton said.

Located at 3389 Catawba Industrial Place along Interstate 40, the 137,785-square-foot building provides access to Interstates 77 and 85 and US-321. The property is leased to paper and packaging company WestRock.

In Tempe, Ariz., Cushman’s Mike Coover, Eric Wichterman, Will Strong, Greer Oliver and Phil Haenel brokered Agave Business Center, a 55,221-square-foot multi-tenant industrial/flex building. Agave Business Center was fully leased at closing and sold for $8 million.

“Agave Business Center was a great opportunity of a fully leased industrial asset with a diverse tenant mix, strong cash flow and robust market dynamics in a premium Southeast Valley location,” Coover said. “Tempe maintains strong industrial fundamentals and one of the most sought-after markets in metro Phoenix.”

Located at 8945 South Harl Ave, the Agave Business Center delivered in 2000. Its location allows access to Interstate 10 and the new Loop 202 and Superstition Freeway are both two miles from the property.