CLOSE

Published:   December 6, 2013
Volume:   XIX    Number:   48

UBS REALTY DROPS $26.25 MILLION FOR DISTRIBUTION FACILITY LEASED TO HOME DEPOT

Phoenix - A company formed by UBS Realty Advisors LLC in San Francisco, Calif. paid $26.25 million ($65.63 per foot) to acquire a 400,000-square-foot industrial building located at 7200 W. Buckeye Road in Phoenix. The seller was SeaCal Buckeye LLC, a company formed by Sealy & Co. in Dallas, Tex. (Mark Sealy, manager). The sale was brokered by Bo Mills of Jones Lang LaSalle in Los Angeles, Calif. and Mark Detmer of JLL in Phoenix. Maricopa County records show 7200 W. Buckeye Road Industrial Investors LLC (UBS entity) paid cash to buy the property. The distribution building is leased to Home Depot for another three years, and is used by the company as its western U.S. return center. The 24.95-acre project was developed in 2009. UBS Realty Advisors is owned by UBS, a Zurich, Switzerland-based global financial services firm. BREW has previously reported UBS Realty Advisors investing in apartment, retail and office properties in the Phoenix area and making loans backed by Valley real estate assets. Sources say the purchase of the building leased to Home Depot is the first industrial investment for UBS Realty Advisors in the Phoenix area in a number of years. UBS Realty Advisors is interested in buying additional industrial properties in the Valley as well as multi-family, retail and office buildings. The contact at UBS Realty Advisors is Mario Maturo . . . call him at (415) 538-4833. Talk to Sealy at (214) 692-9600. Reach Mills at (213) 239-6303. Detmer is at (602) 282-6289.





Copyright © Business Real Estate Weekly of Arizona
CLOSE