CHANDLER, ARIZ. — Los Angeles-based Cohen Asset Management has completed the sale of Iridium @ Price Road Corridor, an industrial property in Chandler. Braintree, Mass.-based Bay Capital acquired the property for $16 million.
Will Strong of Cushman & Wakefield Capital Markets led the company’s team that represented the seller in the deal.
Constructed in 1986 and renovated in 2017, the 69,820-square-foot property is fully air conditioned, provides heavy power and has features a large fenced and secured yard. The asset also includes approximately three acres of vacant land for future expansion.
Iridium Communications, a mobile voice and data satellite communications network, is the sole tenant of the property.