Phoenix – Pasadena based De Pietro Holdings LLC has sold 1919 East University Drive in Phoenix, Arizona.
A private buyer purchased the industrial property in an off-market transaction, and it was fully leased at the time of sale. The buyer will manage the property moving forward.
Built in 1992, the industrial property was purchased by De Pietro Holdings LLC in 2017 and underwent several important renovations.
“This was a unique project for our company as it was a joint venture with Adler Realty Investments. We greatly enjoyed working with them to reposition the property and look forward to opportunities to work with their team again in the future,” said James De Pietro, partner at De Pietro Holdings LLC.
He added, “We have a long relationship with Phil Haenel, Will Strong, and Cushman & Wakefield and are grateful for their efforts on this transaction.”
Chris Engel of Beaconsfield Capital provided advisory services to De Pietro Holdings LLC.
The buyer was represented by Phil Haenel and Will Strong of Cushman & Wakefield.
About De Pietro Holdings LLC
De Pietro Holdings LLC is a privately held commercial real estate investment company that has grown to own approximately 630,000 square feet of office, industrial, medical office, R&D, and retail properties across 16 cities and four states. The Company has remained a family run and operated organization that focuses on developing long term business relationships and practical and creative solutions that satisfy tenant requirements now and in the future. De Pietro Holdings LLC’s properties are primarily located in Southern California and the greater Phoenix, AZ , Denver, CO, Colorado Springs, CO and Salt Lake City, UT areas.