Phoenix, AZ (PRWEB) October 18, 2012
The Desert West Region office of Lincoln Property Company, a full-service real estate firm providing development, investment, property management, receivership, leasing and construction management announced the sale of an industrial property located at 3720 W. Washington Street in Phoenix, Arizona.
Cabot III-AZW02 LLC, a company formed by Boston-based Cabot Properties Inc. paid $ 5.8 million to purchase the 82,368 square foot industrial property located at 3720 W. Washington Street in Phoenix.
The seller was Columbia Arizona Washington IV Industrial LLC, a joint venture company formed by Lincoln Property Company in Phoenix.
The property, which is fully leased to Flexpak Corp., was built in 1996. The Lincoln Property venture purchased the property in 2004 as part of an $ 11.3 million portfolio deal that included 251,745 sq. ft. of industrial and office properties in Phoenix, Tempe and Tucson.
LINCOLN PROPERTY COMPANY
Lincoln Property Company (“Lincoln”) is an international full service real estate firm offering real estate development, design / construction management and property / asset management services. Founded in 1965, Lincoln currently has approximately 4,400 employees and maintains a presence in more than 200 cities in the United States and 10 countries throughout Europe.
Lincoln’s Desert West Region, which includes Arizona, Nevada, Utah and New Mexico, is based in Phoenix, Arizona and has been operating since 2001. Lincoln has developed 2.7 million square feet, acquired 3.7 million square feet and manages 5.5 million square feet of commercial space.
Lincolns notable developments and investments include the LEED Platinum Certified Arizona Game and Fish Department Headquarters, Paradise Village Office Park, Broadway 101 Commerce Park and Camelback Square. Lincoln was also recently ranked 4th in the Arizona Republic Whos Who in Business. The Phoenix Business Journal Book of Lists ranks LPC in the top 10 Commercial Real Estate Property Management firms. For more information, visit http://www.lpcphx.com.