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Investor Pays $4.15 Mil for Glendale Industrial Campus

PHOENIX-A 200,000-sf industrial campus in rapidly growing area of Glendale has been purchased by a local investor. The area is one of the tightest industrial market's in the Valley, with an vacancy rate of about 4.5%.

By D.J. Burrough | Updated on April 09, 2001

PHOENIX-A local real estate investment company has purchased more than 200,000 sf of industrial space in the West Valley.

Harrison Properties Inc., a Phoenix-based developer and investor in commercial real estate, has purchased two industrial buildings totaling 200,220 sf for $4.15 million. The two buildings are at 5355 and 5365 N. 51st Ave. in Glendale, a suburb of Phoenix, and are astride one another. One building is 102,674 sf and the other is 97,546 sf. Both buildings were 90% occupied at the time of the sale.

Honolulu-based Robert Cosco Trust was the seller of the buildings.

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