By: Paul Dionne | Vizzda
The soon-to-be-vacant manufacturing and distribution facility that
served as the regional headquarters for Jabil Circuits, Inc. was sold yesterday
for $11.415m or $60.73 per square foot in an all cash deal. Jabil will vacate the property over the next two to three months after announcing it would cease operations at the facility in September of last year. The buyer was Denver-based Alliance Commercial Partners
through its Phoenix Director of Acquisitions, Curt Kremer.
The property—located north of the northwest corner of the
Loop 101 University Drive at 615 S River Drive—is an 193k ft2
industrial space in one building comprised of manufacturing as
well as storage and distribution warehouses. The project was built in stages
from 1982 to 1997 and sits on a 16.5 acre site. There are 791 parking spaces
on site, three grade and seven dock doors and a fenced yard.
Jabil acquired the property in March of 2005 for $15m or
nearly $80 per square foot in an all cash transaction. That purchase was
pursuant to the $195m acquisition of the electronics manufacturing division of
Varian, Inc by Jabil Circuits. Jabil Circuits, Inc.—a supply chain management
and electronics manufacturer—was ranked 155th on the Fortune 500
with 2013 net revenue of $17.25b.
To Contact the Author:
Paul Dionne – pdionne@vizzda.com
CORRECTION: Several errors were brought to our attention by the acquirer; the information has been corrected to reflect the true square footage, lot size, build years and parking count. We apologize for any confusion.
