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PHOENIX — Denver-based Rectangle Investment Management, the investment management affiliate of Comunal Properties, has acquired an industrial building located at 20 S. 69th Ave. in Phoenix. Terms of the transaction were not released.
Action Gypsum Supply, a key regional supplier of building materials, fully occupies the 39,588-square-foot property. The building features 28-foot clear heights, a secure truck court, dock-high and drive-in loading doors and a 1.29/1,000 parking ratio.
Phil Haenel, Foster Bundy and Katie Repine of Cushman & Wakefield represented the undisclosed seller in the deal.