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Illinois Buyer Drops $4M on Single-Tenant Industrial Building

PHOENIX-Champaign, IL-based Becknell Development LLC beats out more than 10 prospective buyers to claim a 105,107-sf manufacturing and distribution facility leased to Atlas Roofing Corp.

By Jennifer D. Duell | Updated on May 09, 2005

PHOENIX-A 105,107-sf manufacturing and distribution facility, fully leased to Atlas Roofing Corp., has traded hands in a $3.9-million deal. Champaign, IL-based Becknell Development LLC acquired the building from Camelback Properties LLC of Peachtree City, GA.

“We had a lot of activity on the building,” says Nathan Thinnes, an associate with Cushman & Wakefield of Arizona Inc. who teamed with Rob Stephens and Warren Johnston to represent the seller. Gary Anderson and Tony Lydon with Grubb & Ellis/ BRE Commercial LLC in Phoenix negotiated the buyer’s terms.

Thinnes tells GlobeSt.com that the industrial building, sitting on seven acres at 40 S. 45th Ave. in the southwest submarket, received more than 10 offers. Becknell Development wasn’t the highest offer although it made a competitive bid, he says. “They’re a well-known entity and we also looked at ability to close and their track record,” he adds.

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