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IStar sells industrial asset for $36M

IStar Inc. sold an industrial center west of Phoenix to Presson Corp. for roughly $36.3 million, the Phoenix Business Journal reported.

The Avondale Commerce Center, off Interstate 10, comprises 13 buildings spanning over 590,100 square feet of space on nearly 48 acres, the Feb. 25 report noted.

Cushman & Wakefield brokered the transaction.