CBRE Investors, acting USA 615 North 48th Street LLC , paid $88.5 million, or $177 per square foot, to acquire a 500,000-square-foot, single-tenant industrial property in Phoenix, AZ. First Industrial Development Services Inc. was the seller and developer of the project at 615 N. 48th St. The property is a newly constructed production facility on 30 acres fully occupied by Le Nature's Inc. beverage company. The property was a build-to-suit for Le Nature's, which will lease the property for an initial term of 25 years.