DTZ, a global leader in commercial real estate services, announced today the sale of the Longust Distribution Center, 2432 W. Birchwood Avenue in Mesa, AZ. Industrial Property Trust Inc. (IPT) of Denver purchased the ±81,436 square foot property from 2432 Birchwood Associates, LLC, an affiliate of EverWest Real Estate Partners, for $6.5 million ($79.82 PSF).
The institutional-quality warehouse/distribution building is fully occupied by Longust Distributing, which has been in the space since it was built in 2000. Located on 4.62 acres, the property includes approximately 67,188 square feet of warehouse area and approximately 14,248 square feet of office space. Since 1974, Longust Distributing, Inc. has been a major wholesale flooring distributor servicing the Southwestern United States.
DTZ’s Will Strong, Andy Markham, SIOR, and Mike Haenel represented both the buyer and seller.