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PHOENIX — Minneapolis-based The Meritex Co. has acquired a flex industrial building, located at 3930 E. Watkins St. in Phoenix. Simone Charitable Foundation sold the asset for $20.3 million.
Built in 1999 on 7.9 acres, the 101,932-square-foot building was fully occupied at the time of sale. The property is located near Sky Harbor International Airport.
Brian Ackerman of Colliers handled the sale transaction and assisted in structuring the financing for the seller.