Ryan Companies US, Inc.’s Riverside Distribution Center Sold for $33.7 Million
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PHOENIX (November 13, 2006) Ryan Companies US, Inc., one of the largest developers of commercial and office projects in the Valley, announced the recent sale in August 2006 of a 503,000 square foot industrial center at 4301 W. Buckeye Road to McMorgan & Company for $33.7 million.
The 28 acre industrial office complex was developed jointly by SunCor Development Co. and Ryan Companies US, Inc. between 2004 and 2006. Tenants include Kroger, Humana and Office Max.
“In considering real estate investment options for our clients, we evaluate selection criteria such as location, quality and stability of income,” says John Woo of McMorgan & Company. “The Riverside Distribution Center reflects this strategy of investing in high quality projects.”
The sale was brokered by Pat Feeney, Joe Porter and Dan Calihan of CB Richard Ellis.
Ryan Companies US, Inc. is a leading national commercial real estate firm offering integrated construction and development as well as asset, property and facilities management services to customers. In addition to its Phoenix office, Ryan has offices in Minneapolis, Chicago, San Diego, Tampa, Cedar Rapids, Davenport and Des Moines, Iowa. Since formally opening a Southwest regional office in Phoenix in 1994, Ryan has been responsible for constructing projects totaling more than 12 million square feet in the greater Phoenix area for premier companies such as Allied Signal (now Honeywell), Motorola, Phelps Dodge, Wells Fargo Bank, Dial Corporation, ConocoPhillips, Sears, Phoenix Newspapers, Del Webb, Avnet, Mayo Clinic and Target.
