SOUTHWEST VALLEY REAL ESTATE

Legends Furniture building sells for $16.35 million

Posted 1/22/21

The industrial facility that serves as the headquarters and manufacturing facility for Legends Furniture Inc. in Tolleson sold in December for $16.35 million, Colliers International in Arizona announced.

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SOUTHWEST VALLEY REAL ESTATE

Legends Furniture building sells for $16.35 million

The Legends Furniture building at 10300 W. Buckeye Road in Tolleson recently sold for $16.35 million.
The Legends Furniture building at 10300 W. Buckeye Road in Tolleson recently sold for $16.35 million.
[Submitted photo]
Posted

The industrial facility that serves as the headquarters and manufacturing facility for Legends Furniture Inc. in Tolleson sold in December for $16.35 million, Colliers International in Arizona announced.

Sale of the building, 10300 W. Buckeye Road, was completed within 30 days of listing, fulfilling the seller’s goal of a 2020 sale, Colliers stated in a news release.

“This was an exciting and challenging sale, in that the seller wanted to close escrow during 2020 and provided us with just a 30-day listing agreement,” stated Bob Broyles, senior vice president of Colliers International in Arizona.

“We secured two cash offers within a couple of days from the listing being signed and selected a buyer that was able to close escrow on Dec. 30," he stated. "This transaction truly exemplifies the investor enthusiasm for Greater Phoenix industrial assets and our in-depth relationships with qualified investors.”

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Stos Partners of Encinitas, California, purchased the property from BSE LLC of Scottsdale.

Mr. Broyles of Colliers and Jeff Hays of Commercial Properties Inc. cooperatively listed and handled the transaction, the release stated.

Legends Furniture will continue as the property’s single tenant.

The manufacturing/distribution facility on 16.1 acres contains 227,160 square feet of space and was built in two phases.

The original, 130,000-square-foot building was completed in 2005 and expanded in 2016.

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