Stos Partners Buys Phoenix-Area Industrial Asset
- Jan 12, 2021
Legends Furniture Inc. has closed the sale of its headquarters and manufacturing facility, a 227,160-square-foot property in Tolleson, Ariz. Stos Partners paid $16.4 million for the Class B asset in a sale-leaseback transaction. Colliers International worked with Commercial Properties Inc. in arranging the deal.
Situated on 16.1 acres at 10300 W. Buckeye Road, the facility’s first phase opened in 2005. The one-story, 130,000-square-foot building has 30-foot clear heights, a 180-foot truck court and 12 truck well doors, and in 2016 the owner expanded the property to include additional office space, according to CommercialEdge.
Located some 16 miles west of downtown Phoenix, the property is roughly 3 miles south of Interstate 10 in the Southwest Valley industrial submarket. The facility is also 7 miles from the largest-ever speculative building in the Phoenix metro, a 1.3 million-square-foot development in Goodyear, initially slated for completion at the end of 2020.
Colliers Senior Vice President Bob Broyles and Commercial Properties Senior Vice President Jeff Hays handled the negotiations.