REBusinessOnline

JOINT VENTURE ACQUIRES 604,678-SQUARE-FOOT DISTRIBUTION CENTER

PHOENIX — CB Richard Ellis Realty Trust and Duke Realty Corp., under a joint venture agreement, have acquired a 604,678-square-foot distribution center in Phoenix, for an undisclosed price. The property is fully leased to Amazon.com on a long-term basis. Located at 6835 W. Buckeye Rd., the property features 88 dock doors, three drive-in doors, a clear height of 30 feet and 14,000 square feet of office space. This acquisition is the first property purchased as part of a joint venture between the two companies. The partnership plans to acquire up to $800 million of newly developed bulk industrial build-to-suit projects from Duke during the next 3 years.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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