Pepsi expands in Arizona

Buys 150,000 square feet of industrial space

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Soft-drink company Pepsi acquired the 150,000-square-foot former Sea Ray Boats headquarters in Phoenix, Ariz. The value of the transaction was $4.1 million. The new facilities for Pepsi comprise a 105,846-square-foot structure and a companion 41,905-square-foot building. The larger facility provides dock-high and ground-level loading, plus 13,446 square feet. of office space. The smaller building has four oversized truck doors and 20-24 foot clearance. Kirk Jenkins, executive vice president/principal in the Phoenix office of GVA DAUM, reports that the Pepsi Group will utilize the two-building manufacturing facility located on 10.25 acres of land at 4140 E. Raymond St. for expansion of its existing Phoenix bottling and vending machine service activities located on 25 acres immediately east. Jenkins and Skip Corley, Jr., also executive vice president/principal of GVA DAUM, represented Brunswick/Sea Ray in the sale and were the only brokers involved in the transaction. GVA DAUM has 1...