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PEORIA, ARIZ. — CBRE has arranged the $12.7 million sale of Arrowhead Ranch Business Park, located at 21461-21509 N. 78th Ave in the Phoenix suburb of Peoria. Pacifica Real Estate Group sold the asset to a California-based private buyer in a 1031 exchange.
Situated on 9.5 acres, the six-building business park features 18 suites, each with its own private secured yard. The transaction included 11 of the 18 units within the park, totaling nearly 50,000 square feet.
Geoffrey Turbow, Gary Cornish, Anthony DeLorenzo and Nick Williams of CBRE Investment Properties, alongside CBRE’s Evan Koplan and Serena Wedlich, represented the seller in the transaction.