Westcore Pays $12M for Phoenix Warehouse
The seller, a bedding company, signed a short-term leaseback agreement for the 148,700-square-foot facility.
4455 W. Camelback Road. Image courtesy of Westcore
Westcore has acquired a 148,700-square-foot, Class A industrial building in Phoenix from Brooklyn Bedding in a sale-leaseback transaction. The property changed hands for $12.4 million. Cushman & Wakefield assisted the buyer, while Brydant Real Estate negotiated the deal on behalf of the seller.
Located on 7 acres at 4455 W. Camelback Road, the warehouse was completed in 2015. The seller has signed a short-term leaseback agreement for the entire property. The single-story facility features 8,357 square feet of office, two grade-level and 25 dock-high doors. The property is roughly 3 miles from Interstate 17, which also provides access to Interstate 10. Additionally, Phoenix Sky Harbor International Airport is 11 miles away.
Brydant Real Estate President Scott Backes and Senior Vice President Rose Arck represented the seller. The Cushman & Wakefield team included Director Phil Haenel and Executive Managing Directors Andy Markham, Will Strong and Mike Haenel. Earlier this month, the same brokerage team assisted Westcore in signing a full-building lease at West80, a 400,000-square-foot industrial property in Phoenix, roughly 10 miles from the current location.
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