Marcus & Millichap Arranges $9M Purchase of 52,330 SF Flex Building in Metro Phoenix

by Amy Works

GLENDALE, ARIZ. — Marcus & Millichap has arranged the sale of a flex building, located at 7326 Glen Harbor Blvd. in Glendale, a suburb of Phoenix. FM NPL Glendale LLC acquired the asset from NPL Construction Co. for $9 million in a sale-leaseback transaction.

The property features 52,330 square feet of office and industrial space. NPL Construction Co. will continue to occupy the space on a net-leased basis.

Jay Krew and Marty Cohan of Marcus & Millichap, along with Gregg Fox of Marc Realty, procured the buyer, while Dan Dowd of Newmark Knight Frank represented the seller. Frank Mandel of New York-based Mandel Management Co. will operate the asset.

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