PHOENIX — A Los Angeles-based investor bought a 130,000-square-foot research and development facility in Phoenix that serves as the headquarters for ASM America, a supplier for semiconductor process equipment for wafer processing.
Mapleton Investments bought the building for $27 million in its first purchase in the Phoenix market. The building is located at 3440 East University Drive near Sky Harbor International Airport. Canada-based Artis REIT sold the building, and the transaction was brokered by Chris Toci and Chad Littell of Cushman and Wakefield.
“We are honored to have played a part in the growth that the tenant has enjoyed in this facility,” Philip Martens, executive vice president—U.S. region, for Artis, said in a statement. “We originally purchased the asset for its durable and stable cash flow and recently renewed the tenant for the long term and are pleased to be handing the reins to Mapleton Investments as they continue stewardship of the asset.”
The two-story building has highly specialized improvements including clean room space and extensive air and water filtration systems for ASM’s work.
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