Belkorp recently paid $44.1 million for a 174,000-square-foot manufacturing facility within the Sky Harbor Airport submarket. The building located at 3809 E. Watkins St. was owned by LBA Realty through a fund.
Cushman & Wakefield’s Will Strong, Phil Haenel, Foster Bundy, Molly Miller, Jack Stamets, Michael Matchett, and Madeline Warren represented both the buyer and seller.
“Opportunities to acquire assets of this caliber are extremely limited,” said Bundy. “The combination of long-term tenancy with a Fortune 2 company, substantial tenant capital investment, and significant available power made this a highly compelling opportunity.”…