Capsule production and manufacturing company CapPlus Technologies has acquired a manufacturing facility in the Spectrum Ridge Business Park in Phoenix. The company purchased the 20,500-square-foot facility from United Heating and Cooling for $2.9 million or $142.27 per square foot.

There is a dearth of product in the Deer Valley submarket, where the property is located, and the asset was highly sought after in a competitive sale. The high demand has put upward pressure on pricing.

Kidder Mathews commercial real estate brokers Mike Ciosek, Eric Bell and Dylan Scott, represented both parties in the transaction.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.