Company plans growth in North Scottsdale location
PHOENIX - Forbes Industries (Forbes Refrigeration) purchased a commercial condominium at 7291 E. Adobe Street #105 in Scottsdale to serve as its headquarters. The company purchased the property from the owner of Bell Union Auto Service and plans to grow its refrigeration business within the expanding North Scottsdale area.
“The seller of this property is a long-term client and decided it was time to retire and sell his business suite,” says Greg Hopley, executive vice president with Colliers in Arizona. “The asset suits the Forbes operation perfectly and enables the company to take over this move-in ready suite. Forbes Refrigeration will be able to start its operations immediately and take advantage of the incredible demographics in this dynamic area of Scottsdale.”
Hopley and Dillon Hopley of Colliers in Arizona represented SCSC Enterprises, LLC, the seller in the transaction. Nicole Forbes of DPR Commercial represented Forbes Industries in the acquisition.
Forbes Industries paid $999,000 for the suite, which contains 2,713 square feet of space. The property is located within the Scottsdale Ridge Business Center, just off Scottsdale Road, north of the Loop 101 freeway. Configuration of the suite includes 80 percent warehouse space and the remaining 20 percent includes reception, office, kitchen and bathroom facilities. Forbes Refrigeration has taken occupancy of the property.
Forbes Refrigeration is a family owned and operated company that was founded five years ago. Donnie Forbes is a third generation specialist in commercial and residential HVAC & refrigeration. He owns the company with his wife, Nicole, who handles sales, marketing and administrative work for the operation. The Forbes are high school sweethearts, having met at Chaparral High School in Scottsdale. The company plans to expand within the growing Scottsdale marketplace. Forbes Refrigeration helps local restaurants, bars, business owners and homeowners with all of their cooling needs. They also handle preventative maintenance on every form of HVAC unit big and small, coupled with extensive expertise in refrigeration such as ice machines, walk-ins, wine cellars and more.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.