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Sunday, May 26, 2013

Mesa’s Broadway 101 Commercial Park sells for $77M


Mesa’s Broadway 101 Commerce Park has sold for $77 million, making it the priciest industrial property deal this year.

Lincoln Property Co. sold the 808,000-square-foot project, which was built on the site of a Motorola Inc. semiconductor plant built in 1969. Industrial Income Trust Inc., a Denver-based real estate investment trust, bought the property, located on 52 acres on the northwest corner of Broadway and Dobson roads.

“Broadway 101 has some history to it,” said David Krumwiede, executive vice president of Lincoln Property’s Desert West region. “More than 2,600 Motorola employees once worked there.”

Read more: Mesa’s Broadway 101 Commercial Park sells for $77M

Reuters: Business News

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