Real estate

Gilbert Spectrum Building 3 sells for $56.1 million

Gilbert Spectrum Building 3, a 115,212-square-foot industrial property at 1655 W. Elliot Road in Gilbert, sold Aug. 18 for $56.13 million, according to commercial real-estate website vizzda.com.

The buyer was an entity associated with Syndicated Equities. The acquisition included $33.68 million in new debt financing from Old National Bank. The loan is scheduled to mature Aug. 14, 2036.

The seller was an entity affiliated with SunCap Property Group.

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