Less than a year after GO Industrial delivered one of its newest Arizona industrial projects, the Phoenix company has offloaded the nearly 182,000-square-foot building to a California semiconductor supplier.
Santa Clara-based Applied Materials acquired the GO|AZ Ave building located in Chandler from GO Industrial on June 17 for $41.15 million, according to Maricopa County documents. The GO|AZ Ave building sits on a 10-acre site.
The building, covering 181,655 square feet, has multitenant capabilities and features a 3,219-square-foot office component. CBRE’s Evan Koplan, Tanner Ferrandi and John Werstler represented GO Industrial in the sale while Cushman & Wakefield’s Jim Wilson, Brian Lee and Garrett Wilson facilitated the sale on behalf of Applied Materials.
“GO Industrial and PB Bell thoughtfully designed Arizona Ave Logistics to meet the evolving needs of modern industrial users,” said Koplan, executive vice president at CBRE, in a statement. “Its strategic location, fully air-conditioned warehouse space and high-end infrastructure attracted a wide range of users looking to maximize operational efficiency in one of Chandler’s most supply-constrained submarkets.”
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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