CBRE Arranges Metro Fire Equipment’s $5.5 Million Acquisition of Two Gilbert, Ariz. Industrial and Office Properties
05 Nov 2020
PHOENIX – CBRE has arranged the sale of two adjacent industrial and office properties in Gilbert, Ariz. for a combined $5.5 million to Metro Fire Equipment.
Evan Koplan and Serena Wedlich of CBRE in Phoenix represented the buyer, a full-service fire protection company, in the acquisition of both properties, located at 1240 and 1200-1210 W. San Pedro Street. Koplan and Wedlich also represented the seller in the trade of 1240 W. San Pedro Street. CBRE’s Mark Krison and Luke Krison represented the seller in the sale of the second property.
“Metro Fire Equipment acted quickly and flawlessly executed on the unique opportunity to acquire two adjacent properties that can be combined to create a larger site to accommodate additional growth in the future,” said Koplan. “These properties met the company’s immediate expansion needs while also providing them with a rare investment opportunity.”
The four-building, 15,584-square-foot property at 1200-1210 W. San Pedro Street sits on 3.1 acres and features a 7,863-square-foot freestanding office building, a 3,980-square-foot office/warehouse and two warehouse canopies totaling 3,741 square feet.
The 11,091-square-foot property at 1240 W. San Pedro Street was built in 1995 and features service and warehouse space totaling 3,602 square feet, two drive-through wash bays and storage and a 5,729-square-foot freestanding office building on 2.59 acres. The property includes a large secured, fenced rear yard area with drive around capability.
The properties are located in the Fiesta Ranch Business Center and are close to the U.S. 60 and Loop 101 and 202 Freeways.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.