PHOENIX – Cassidy Turley, a leading commercial real estate provider in the U.S., announced today they represented Dalfen America Corp. (dba Mazal TOV Realty, LPL) in the purchase of Baseline Interstate, a ±136,683-square-foot industrial warehouse/office property at 4707 E. Baseline Rd. in Phoenix. The investment company located in Westmount, Quebec, Canada purchased the property for $7,500,000 ($55.02psf) from Holualoa Companies (dba 4707 Baseline Phoenix) of Tucson. Executive Vice President’s Bob Buckley, Tracy Cartledge and Steve Lindley, with Cassidy Turley’s Capital Markets Group, negotiated the transaction on behalf of the buyer. CBRE represented the seller.
According to Buckley, “Dalfen purchased this building vacant and already have solid tenant activity for the property.” Baseline Interstate is the third property in Metro Phoenix Cassidy Turley has represented Dalfen. “We continue to see an increase in Canadian buyers looking to acquire office and industrial properties in the Phoenix area. They are motivated by a desire to diversify their Canadian investments into U.S. dollar investments,” Buckley added.
Built in 1996, the Baseline Interstate project sits on ±6.8-acres that fronts Baseline Road and has direct access to I-10. The building includes ±42,372 square feet of office space and ±94,311 square feet of warehouse space with 10 truck-well dock configurations, two grade-level doors and 24 to 26 foot clear heights. The building was vacant at the time of sale.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.