Telgian Grows in Fire-Prone Phoenix
- Jul 31, 2015
By Liviu Oltean, Associate Editor
An independent fire protection services provider with a long history and presence in the Valley of the Sun has decided that it’s time to expand. Telgian Inc. recently closed on the acquisition of the 40,650-square-foot Phoenix Tech Center in Phoenix, Ariz., which will serve as the company’s headquarters.
The building is located at 10230 S. 50th Place and was acquired for $3.65 million through a 1031 exchange. Prior to the acquisition, Telgian sold its previous headquarters located at 2615 S. Industrial Park Ave. to Medone Healthcare, LLC for $1.54 million.
CBRE has helped both in the acquisition of the new location and in the disposition of the former headquarters. The CBRE team that worked on behalf of Telgian consisted of Cooper Fratt, John Wrestler and Jerry McCormick.
“Telgian is an industry leader and was in need of a larger facility due to growth the company has experienced in recent months,” Cooper Fratt of CBRE, said in a prepared statement. “Given the current supply of available product on the market, it was a challenge to line up the timing of both transactions. However, we were able to overcome those challenges. The Phoenix Tech Center facility fits all of Telgian’s expansion needs and will also accommodate additional growth into the future.”