Birtcher Arizona LLC of Tempe picked up the properties, Coronado Business Parks I and II, in a deal that allowed RREEF of San Francisco to divest of some of its Phoenix holdings while still maintaining its status as the Valley's biggest industrial owner with more than nine million sf of space. "These were the last two parts of the puzzle that hadn't been disposed of," Joe Porter with CB Richard Ellis Inc.'s Phoenix office tells GlobeSt.com, referring to RREEF's two remaining portfolio properties at 340 N. 52nd Ave. and 5102 W. McKinley St.

Porter said the buyer was able to obtain separate financing for each of the buildings, giving the investment group the option of selling each individually in the future. Porter, along with Pat Feeney and Dan Calihan, all in CB Richard Ellis' Phoenix office, represented buyer and seller in both transactions.

Coronado Business Park I, located 340 N. 52nd Ave., sold for $872,000. Built in 1982, it is a 22,350-sf industrial warehouse and distribution property occupied through February 2004 by the Carpenters Union Local 408.