Arizonas Ace Vending Purchases 36 Million Facility

GILBERT, AZ -- Arizona's Ace Vending has purchased an industrial building in the greater Phoenix area for $3.6 million.

Cushman & Wakefield, the commercial real estate firm that oversaw the sale, said the full-line vending and office coffee service operation will occupy the entire 41,490-sq.ft. facility in stages during the fourth quarter of 2015.

"Ace Vending required a building that would accommodate its expansion and growing lines of business," said C&W's Andy Markham. "This particular facility provided modern distribution features and room for future expansion, as well as desirable outside storage capacity."

Ace Vending was founded in 1998 by Kevin Van Hazel, Wade Stooks and Chuck Walton. It provides services to thousands of accounts nationwide, according to its website.