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Produce Distributor Antes Up $2M for Warehouse

CHANDLER, AZ-Coliman Produce beats out one other user and pays more than the list price to pocket the keys to a 29,349-sf building. The company drops $2.4 million for the cold-storage asset, which is believed to be its first piece of US real estate.

By Jennifer D. Duell | Updated on March 24, 2005

CHANDLER, AZ-A Mexican produce distributor has acquired a 29,349-sf industrial building for $2.4 million. Coliman Produce plans to use the freestanding building as its Arizona distribution point.

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.

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