Pasadena property

This property on West Pasadena Avenue in Glendale recently sold for $1.95 million. The surrounding five acres were included in the purchase price.

Cushman & Wakefield announced the $1.95 million transaction of an industrial property at 4932 W. Pasadena Ave., in Glendale.

New West Holdings, LLC of Glendale, purchased the 50,068-square-foot industrial building from Three Star Properties, LLC of Knoxville, Tenn.

Cushman & Wakefield’s Senior Managing Directors Rick Danis and Paul Boyle represented the buyer during the investment sales transaction. Daum Commercial’s Carl Johnson represented the seller.

Built in 1973, the property is on approximately 5 acres in Phoenix’s Glendale industrial submarket. The buyer plans to operate the building as an investment and utilize the vacant land for its business.