UPDATED: APRIL 27, 2016 2:42 PM — An affiliate of Los Angeles-based Colony Capital paid $55.65 million on Tuesday for a four-building portfolio in Crownpointe Commerce Park near the tourism corridor.
Located on Kingspointe Parkway off W. Sand Lake Road, the buildings dubbed Crownpointe I-IV were marketed for sale as a portfolio by Cushman & Wakefield, for owner TR Crownpointe Corp, an affiliate of Invesco Real Estate out of Dallas.
Invesco's affiliate previously paid a combined $40.76 million for the four buildings in separate deals between July 2003 and September 2006.
C&W did not respond to requests for comment on the sale.
The four industrial buildings feature ceiling heights of between 24 and 30 feet, between 37 and 73 loading docks each, and a total of 669,247 square feet of rentable building area, according to Costar.com.