Nicola Wealth Real Estate Acquires Adjacent Property to Consolidate Business Park Ownership

The 34,440-square-foot building sits on 3.13 acres adjacent to NWRE’s 1Forty3 business park.

Nicola Wealth Real Estate acquires 4832 E McDowell Road

This property is adjacent to a previously acquired 1Forty3 business park in Phoenix, Arizona.

PHOENIX, Ariz., Jan. 31, 2023 (GLOBE NEWSWIRE) — Nicola Wealth Real Estate (NWRE) has acquired 4832 E McDowell Road adjacent to previously acquired 1Forty3 business park in Phoenix, Arizona. The deal was brokered by Phil Breidenbach of Colliers.

With a total of 34,440 square feet on 3.13 acres, 4832 E McDowell is adjacent to NWRE’s eight buildings, a small 109,175 square foot bay infill property known as 1Forty3 Business Park. The subject asset is currently leased to a call center. Once vacated, this call center will be relocated to its original small bay industrial use with a grade load. An integrated 12.26-acre rectangular site and 143,615-square-foot business park is located in the northeast corner of Street and McDowell Road just west of Sky Harbor International Airport and downtown Phoenix.

Matthew Schaeffers, Director of Acquisitions at Nicola Wealth Real Estate, said: “When he first acquired 1Forty3 in 2021, it was our goal to consolidate ownership of this high-performing business park.”

Schaeffers continued, “This strategic location is close to Scottsdale’s decision makers, with easy access from State Route 143 to Loop 202 and Interstate 10. The asset is a US Income Fund. and will be held for the long term.”

NWRE is focused on growth in key U.S. markets such as Las Vegas, Phoenix, Denver, Dallas, Fort Worth, Minneapolis and Seattle, acquiring revenue-generating real estate and implementing build-to-own development and value-added strategies. We focus on execution.

About Nicola Wells Real Estate

Nicola Wealth Real Estate (NWRE) is Nicola Wealth’s in-house real estate team. Nicola Wealth is a leading Canadian financial planning and investment firm with $13.2 billion (CAD) of assets under management (AUM). NWRE has an experienced and innovative team sourcing and asset management for a growing real estate portfolio in key North American markets, including industrial, multifamily rental apartments, offices, self-storage, retail and seniors. across a variety of asset classes, including for housing. His current NWRE portfolio totals over $8.7 billion in total asset value.


CONTACT: Victoria Emslie Nicola Wealth 604-484-1286

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