CBRE Secures $22M in Acquisition Financing for Cold Storage Facility in Phoenix
PHOENIX — CBRE Capital Markets Debt & Structured Finance has arranged a $22 million loan for the acquisition of a cold storage facility in Phoenix. Bruce Francis, Robert Ybarra, Shaun Moothart, Dana Summers, Doug Birrell and Jim Korinek of CBRE facilitated the loan on behalf of the borrower, a joint venture between Condor Cold Storage and AEW Capital Management.
Located at 7000 W. Buckeye Road, the 285,022-square-foot property features 36-foot clear heights and office, warehouse, baking, production and ammonia freezer facilities. Café Valley Bakery, a producer of bakery products for in-store bakeries, club stores, foodservice and convenience stores, fully occupies the property. The asset was built in 2010.