The 4151 Lindberg Way property received several offers during its six months on the market, says TJ Swearengin, an associate with Lee & Associates Arizona who represented the seller, Smith Family Trust of Temecula, CA. Swearengin sold the building to the trust in 2003 for $2 million. The final two offers were from users, he adds.
"The building is heavily improved with cold storage, which is why we got such a high price," Swearengin tells GlobeSt.com. The building was listed at $2.35 million and sold for $2.4 million, he says.
According to Swearengin, the seven-year-old building is the first location that Coliman has purchased in the United States although it has several distribution centers in the US. Coliman, represented in the transaction by Jeff Hayes with NAI Horizon's Phoenix office, is planning an immediate move-in to the warehouse.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
