Regent Properties Sells Two-Building, 124,308 SF Flex Portfolio in Phoenix

PHOENIX — Regent Properties has completed the sale of a two-building flex industrial and office portfolio in Phoenix’s Deer Valley submarket to a private investor for $22.5 million. Geoffrey Turbow, Anthony DeLorenzo and Ashley Brooks of CBRE represented the seller in the transaction.

Located within the North Loop 101 Business Center, the single-story buildings were constructed in 2001. The portfolio includes:

• A 76,101-square-foot building at 950 W. Behrend Drive with American Defense Structures LLC leasing 45,085 square feet and 31,016 square feet of office space slated for conversion to flex;
• A 43,207-square-foot flex lab and office space at 960 W. Behrend Drive, which is leased to Super Star Car Wash HQ, Paradise Behavioral Health LLC and National Dentex.