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Biltmore Buys 515,722-SF Portfolio for $55M

TEMPE, AZ-The Phoenix-based company is claiming the five-asset flex industrial portfolio in Temple and Chandler from DMC Investment Group.

By Amy Wolff Sorter | Updated on February 25, 2008

TEMPE, AZ-A Phoenix company has snagged the five-asset portfolio located in Tempe and Chandler. The investor paid $55.5 million to the seller, also Phoenix-based, to acquire the 515,722-sf collection of flex and industrial buildings.

Active area player Biltmore Holdings LLC acquired the portfolio from DMC Investment Group with help from SVPs Robert F. Buckley, Tracy J. Cartledge and Steven K. Lindley with Grubb & Ellis/BRE Commercial LLC’s Phoenix office. Representatives from DMC and Biltmore could not be reached by press time.

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