GOODYEAR, AZ-Business Real Estate Weekly of Arizona reports that Cohen Asset Management Inc. has acquired a 150-acre, 752,000-square-foot asset that was once the manufacturing and distribution facility for Rubbermaid Inc. The Los Angeles buyer paid $34.5 million to Horsham, PA-based BET Investments for the deal, which includes 100 additional acres that could support an additional 1.7 million square feet of development. The property is rail-served by the Union Pacific Railroad.
The land itself has a Cotton Lane address, though the building is located at 17300 W. Broadway Rd. The facility is 100% leased to tenants including Saint-Gobain Glass Corp.
The sale was brokered through Dominic Petrucci of Kairos Partners in Newport Coast, Calif. and Pat Feeney, Joe Porter, Dan Calihan and Rusty Kennedy of CBRE in Phoenix.
Read more about the transaction here.
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.
