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Rich Uncles Invests $26.5M in Two-Bldg. Sale-Leaseback with AvAir

Lee & Associates Facilitates Deal for Aviation Parts Provider’s HQ Facility
January 23, 2018
Costa Mesa, CA-based Rich Uncles REIT, a crowd-investing platform that aims to make direct real estate investment available to the masses, acquired a two-building industrial portfolio located in Chandler, AZ from AvAir, Inc., for $26.5 million, or approximately $163 per square foot.

The sale/leaseback included the two, single-story industrial buildings which currently houses the seller’s corporate headquarters on a 15-year lease. The Class A assets delivered in 2015 at 6877 and 6971 West Frye Rd. at the northeast corner of Loop 202 and 56th St. The properties feature 40-foot clear heights and total 162,714 square feet.

Andy Ogan, principal of Lee & Associates, represented the seller.

“AvAir’s headquarters created an ideal opportunity for Rich Uncles to break into the Valley market by acquiring a new cutting edge, creative/office warehouse development with a global aviation tenant,” said Ogan. “This transaction will provide long-term, durable cash flows in a market poised for sustained growth and capital appreciation.”

Please see CoStar COMPS # 4093240 for more information on this transaction.
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