Phoenix, AZ, September 25, 2011 --(PR.com
)-- The Desert West Regional office of Lincoln Property Company, a full-service real estate firm providing property management, receivership services, leasing, development and construction management, announced that has acquired two industrial buildings in Phoenix.
The properties, located at 1825-1835 South 43rd Avenue, Phoenix and 3404 West Papago Street, Phoenix are 338,141 SF and 99,109 SF respectively. The two-property package was purchased from RGR Development Corporation.
“These two properties are in core industrial locations in the Valley with strong national tenants,” said David Krumwiede, Executive Vice President of Lincoln Property Company. “Lincoln Property Company is actively looking for additional strategic commercial acquisitions for our portfolio. With this acquisition, our property management division now manages 5.2 million square feet in the Valley.”
The property at 1825-1835 South 43rd Avenue, Phoenix, is nearly 100% occupied by three tenants: McLane Food Service, Amerisource Bergen and Arch Aluminum. The property at 3404 West Papago Street, Phoenix, is 100% occupied by Oldcastle Glass.
Lincoln Property Company’s property management division will manage the properties. The brokers for the transaction were Pat Feeney, Dan Callahan and Joe Porter with CB Richard Ellis.
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 3 million square feet, acquired 2.3 million square feet and manages more than 5.2 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. For more information, visit http://www.lpcphx.com.
Julie Igo, Moxie Group PR