Daum Commercial Real Estate Services recently directed the acquisition of a 9,500-square-foot industrial property in Glendale on behalf of the buyer, American Roofing & Waterproofing.
The asset will serve as the company’s new headquarters location, according to Carter Wilson, CCIM, associate at Daum Commercial, who completed the transaction alongside David Wilson, Daum executive vice president.
“As a leading commercial and residential roofing company in Arizona that also works throughout Texas and California, American Roofing & Waterproofing has experienced consistent growth,” Carter said.
“Based on the firm’s success, business plan and the strength of the greater Phoenix industrial market, we advised the team to strategically purchase their own location in Glendale, which will position them well for continued success and expansion.”
Carter noted the property is an ideal location for the buyer, with all of its vendors located within a mile of the asset.
David added the Phoenix area saw the best quarter on record for industrial net absorption in Q4 2020, demonstrating the continuing demand from local businesses to remain in and expand within the market.
“Through close relationships with lenders, we were further able to help move this transaction forward seamlessly by connecting the buyer with Enterprise Bank, where Senior Vice President Doug Haman facilitated the SBA loan process with the buyer and all other parties involved,” David continued.
The property is located at 5210 W. Missouri Avenue in Glendale, Arizona and was purchased for $850,000.