PHOENIX — A Gilbert industrial building that is fully leased to Frito-Lay recently sold for $26.8 million, according to a Friday announcement.
Simone Charitable Foundation was the company that bought the building from ATLAS Capital Partners, a Scottsdale-based real estate development and investment firm.
The industrial building is 60,500 square feet and sits on 8.16 acres, located off of Lindsay and Germann roads not far from Chandler Municipal Airport.
Details on Gilbert industrial building sold for $26.8M
ATLAS purchased the land the building is on in 2022 and afterwards put in place a low-coverage development plan that attracted the attention of Frito-Lay. That led to a full-building, build-to-suit lease between the two…