A building at a new industrial project in Glendale recently changed hands for nearly $82 million, or about $136 per square foot.

An affiliate of Cohen Asset Management Inc. purchased the Falcon Park 303 building from the developer, US Capital Development, in May. It's fully leased to Unical Aviation, an aircraft parts and components supplier.

The first phase of Falcon Park 303 is a nearly 600,000-square-foot building that's part of an overall project that will total 925,504 square feet. The project is located at 15132 W. Camelback Road.

“This was a special core investment opportunity to capitalize on the acquisition of a fully leased, state-of-the-art industrial building with long-term tenancy," said Will Strong, executive vice chair at Cushman & Wakefield, in a statement. "US Capital Development delivered an exceptional new industrial asset on this site, which Falcon Park 303 boasts many top-notch characteristics resulting in excellent leasing performance and strong fundamentals.”

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By Staff - Reporter, Phoenix Business Journal