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Duke Realty sells Amazon building in Phoenix for $74.8M

Duke Realty Corp.sold a sizable industrial building in Phoenix for roughly $74.8 million via itsDH Buckeye LLC unit, Business Real Estate Weekly of Arizona reported.

The warehouse covers 1,009,351 square feet at and is 100%-leasedto Amazon.com. It was sold to a venture formed by The Koll Co.

The building had an area of only about 604,678 square feet whenit was acquired by DukeRealty for $27.5 million in 2007, but it was later expanded. It was constructedas part of the first phase of the Buckeye Logistics Center, the report added.