GILBERT – April 14, 2017 – Abington Emerson Investments, LLC continues to grow its portfolio in Southwest by acquiring a multi-tenant industrial property at 1405 North Fiesta Boulevard in Gilbert, Arizona (the “Fiesta”).
The ±73,283 square foot light industrial building is located in the heart of the industrial/business area of Gilbert, and is just minutes away from the area’s major freeways, Chandler, Mesa and Phoenix markets. The property was acquired at a very attractive price from an institutional investor, who was not interested in re-tenanting or updating the building upon the departure of its current single tenant in June. Abington Emerson is expected to generate substantial value by leasing the space to a single or multiple tenants and is particularly excited about the demand and employment fundamentals in an area that has recently received multi-billion commitments from such companies as Apple and Intel.
“Fiesta is the third acquisition for Abington Emerson in Arizona in the past twelve months and our first industrial asset in Southwest. It is an attractive property in a desirable location and we are very excited about its value-add potential,” commented Brent Howard, who leads Abington Emerson’s acquisitions, sales and management in the U.S. Southwest region.
Fiesta acquisition was profiled in the news articles below: