Phoenix, AZ, April 22, 2012 --(PR.com
)-- The Phoenix office of Lincoln Property Company www.lpcphx.com, a full-service real estate firm providing development, investment, property management, receivership, leasing and construction management, announced the sale of Lincoln Commerce Park 2 in Phoenix to Cornerstone Real Estate Advisors.
Located at Interstate 17 & 7th Avenue in Phoenix, Lincoln Commerce Park 2 consists of 336,665 square feet of office, showroom and warehouse space in four buildings. Lincoln Commerce Park was developed in two phases by Lincoln Property Company from 2003 to 2007 and totals 550,000 square feet.
Existing tenants for Lincoln Commerce Park 2 include Criterion Brock, Lochinvar, Interceramic, Inc., Standard Renewable Energy, Amarr Door, United Hospital Services, and Southeast Aluminum. The property is 83% occupied.
“We believe that Lincoln Commerce Park 2 will be an excellent investment for the buyer based on the asset’s location, design and functionality,” said David Krumwiede, Executive Vice President, Lincoln Property Company West Region.
“LPC is honored that we will continue in our role as Property Manager for LCP,” said Tammy Sidles, Director of Management Services for Lincoln Property Company. “We will continue to provide the highest level of service ensuring that the property is one of the highest quality business parks in this market.”
Brokers representing Lincoln Property Company were Chris Toci of Cushman & Wakefield and Jeff Conrad / Allen Lowe of Lee & Associates. More information about Cornerstone Advisors is available at www.Cornerstoneadvisors.com.
Lincoln Property Company
Lincoln Property Company ("Lincoln") is an international full service real estate firm offering real estate development, design/construction management and property/asset management services. Founded in 1965, Lincoln currently has approximately 4,400 employees and maintains a presence in more than 200 cities in the United States and 10 countries throughout Europe.
Lincoln's Desert West Regional office, based in Phoenix, Arizona, has developed 2.7 million square feet, acquired 3.7 million square feet and manages 4.9 million square feet of commercial space. The Phoenix Business Journal Book of Lists ranks LPC in the top 10 Commercial Real Estate Property Management firms. 2011 marked LPC’s 10th year in Arizona. For more information, visit http://www.lpcphx.com.
Julie Igo, Moxie Group PR