Parkmeed Properties acquired the 314-unit Ashton Pointe at 12175 W McDowell Rd in Avondale for $42.5M from the P.B. Bell Cos.
The property is less than a mile north of the 1M SF Coldwater Depot Logistics Center, which houses major distribution sites for specialty retailers, AZ Big Media reports. IPA's Steve Gebring and Marcus & Millichap's Cliff Davis repped the seller and procured the buyer. [AZBM]
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