Regions Southwest
Alter Sells 2 Phoenix Industrial Properties for $41M
May 9, 2008

The Alter Group has sold two distribution buildings totaling 684,000 square feet at its 162-acre Buckeye Logistics Center in Phoenix. Principal Financial Group Inc. acquired the properties for a total of $41 million. The first building was a 309,500-square-foot warehouse which sold for $18.2 million, while the other, at 380,700 square feet, was sold for $22.9 million. With the first phase of Buckeye Logistics Center now complete, The Alter Group is planning the next speculative phase. According to Gallagher, construction of another building could begin in the first quarter of 2009.

 
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