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Glendale office/industrial property sells for $9 million

Posted 10/10/19

Marcus & Millichap, a commercial real estate investment services firm, announced the sale of a 52,330-square foot net-leased office/industrial property located at 7326 Glen Harbor …

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Glendale office/industrial property sells for $9 million

Posted

Marcus & Millichap, a commercial real estate investment services firm, announced the sale of a 52,330-square foot net-leased office/industrial property located at 7326 Glen Harbor Blvd.

Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $9,000,000

The buyer, FM NPL Glendale LLC, a Delaware limited liability company was procured by Jay Krew, an investment specialist in Marcus & Millichap’s Phoenix office and Marty Cohan, an investment specialist in the firm’s West Los Angeles office. Gregg Fox with Marc Realty also assisted on the buy side.

The property is in the Glen Harbor Airpark and is positioned near to Loop 101 and Interstate-10. The seller, NPL Construction Co. was represented by Dan Dowd with Newmark Knight Frank. Asset management will be in the hands of Frank Mandel with New York-based Mandel Management Company. Mandel Management is an active net lease buyer having acquired more than $75 million this year to date.