Nicola Wells Real Estate Acquires Adjacent Property and Consolidates Business Park Ownership

The 34,440-square-foot building sits on 3.13 acres adjacent to NWRE’s 1Forty3 business park.

Nicola Wealth Real Estate acquires 4832 E McDowell Road

PHOENIX, Ariz., Jan. 31, 2023 (GLOBE NEWSWIRE) — Nicola Wealth Real Estate (NWRE) has acquired 4832 E McDowell Road adjacent to previously acquired 1Forty3 business park in Phoenix, Arizona. The deal was brokered by Phil Breidenbach of Colliers.

With a total of 34,440 square feet on 3.13 acres, 4832 E McDowell is adjacent to NWRE’s eight buildings, a small 109,175 square foot bay infill property known as 1Forty3 Business Park. The subject asset is currently leased to a call center. Once vacated, this call center will be relocated to its original small bay industrial use with a grade load. An integrated 12.26-acre rectangular site and 143,615-square-foot business park is located in the northeast corner of 48.^th Street and McDowell Road just west of Sky Harbor International Airport and downtown Phoenix.

Matthew Schaeffers, Director of Acquisitions at Nicola Wealth Real Estate, said: “When he first acquired 1Forty3 in 2021, it was our goal to consolidate ownership of this high-performing business park.”

Schaeffers continued, “This strategic location is in close proximity to Scottsdale’s decision makers and provides easy access to Loop 202 and Interstate 10 via State Route 143. It is in the US Income Fund and will be held for the long term.”

NWRE is focused on growth in key U.S. markets such as Las Vegas, Phoenix, Denver, Dallas, Fort Worth, Minneapolis and Seattle, acquiring revenue-generating real estate and implementing build-to-own development and value-added strategies. We focus on execution.

About Nicola Wells Real Estate

Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a leading Canadian financial planning and investment firm with $13.2 billion (CAD) of assets under management (AUM). With an experienced and innovative team, NWRE sources a portfolio of real estate across multiple asset classes including industrial, multi-family rentals, offices, self-storage, retail and seniors in key North American markets. and manage assets. housing. His current NWRE portfolio totals over $8.7 billion in total asset value.

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CONTACT: Victoria Emslie Nicola Wealth 604-484-1286 vemslie@nicolawealth.com