Acquisitions

4550-4650 W. Van Buren Street, Phoenix, Arizona

June 15, 2018

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Purchased:

Nicola Crosby, the real estate division of Nicola Wealth Management Ltd., is pleased to announce the acquisition of 4550-4650 W. Van Buren Street in Phoenix, in partnership with Hopewell Development.

This industrial property is comprised of two buildings totaling 153,900 sf situated on a 10.86 acre site. The property is 66% leased and will be substantially upgraded as part of our value-add strategy.

Special Thanks To:
  • Hopewell Development (Joint Venture Partner)
  • Broker – Allen Lowe (Lee & Associates)
  • Financing – Adam Parker & Chad Metzger (Newmark Realty Capital)

For more information, please contact any of the following:

About Nicola Wealth Real Estate

Nicola Wealth Real Estate is the in-house real estate division of Nicola Wealth.  Our team acquires and manages properties for Nicola Wealth’s real estate portfolios.  We are an experienced team with a disciplined approach, dedicated to building high quality real estate portfolios that are diversified both geographically and by asset type.

About SPIRE Real Estate Portfolios

SPIRE Real Estate LP is an investment portfolio comprised of retail, industrial, office, multi-family, seniors and self-storage properties totaling 3.7 million square feet located in major Canadian markets. SPIRE US LP is an investment portfolio comprised of office, retail and industrial properties located in Seattle, San Francisco, Denver, Phoenix, Houston and Chicago. The portfolio also includes interests in over 14,000 multi-family apartment units located in the South and Southeast US. SPIRE Value Add LP is a new addition to the SPIRE and SPIRE US investment portfolios and focuses on generating returns through re-sale of investments in multiple projects using “value-add strategies.”