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Local Investor Pays $3.5 Mil for Distribution Site

PHOENIX-A Litchfield-based private investor is the new owner of a 35,300-sf distribution center that is leased to the Arizona Republic. The investor has paid $3.5 million, the same as last year's buyer for another of the paper's distribution facilities.

By D.J. Burrough | Updated on May 23, 2001

PHOENIX-A local investor has shelled out $3.5 million for the main distribution facility of the state’s largest paper.

Litchfield-based Kenneth Wayne Sheely has bought the 35,300-sf North Valley distribution center for the Arizona Republic, which has a daily circulation of more than 300,000. The built-to-suit center at 18808 N. 32nd St. had been built for the newspaper just over five years ago. The Cavness Family Trust, a Phoenix-based trust and the site’s developer, is the seller. The Gannett Co. newspaper will continue to lease the building and operate it as its main distribution plant.

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