Arizona Republic Distribution Building Nets $3.6M in Investment Transaction

A 35,000-SF distribution building at 7444 E. Hampton
Ave., Mesa, has sold for $3,600,000 or $103.00 per SF. The property is
leased to Phoenix Newspapers Inc., parent to The Arizona Republic.

OLYMPUS DIGITAL CAMERA
OLYMPUS DIGITAL CAMERA

Matt Hobaica, Principal with Lee & Associates represented the
buyer, Greenwood & McKenzie Real Estate Investments to the table.
The owner, E & H Smith & Evelyn Smith, L.P. were represented by Barry
Gabel and Chris Marcildon of CBRE.
“This was a rare opportunity to purchase a quality single-tenant,
fully-leased industrial building in the East Valley,” Hobaica said.
The property was constructed in 2000 as a built-to-suit for Phoenix
Newspapers and sits on 4.4 acres. The building features grade level
and truck well loading, excellent parking ratio of 6.83 spaces per
1,000, back-up generator and is strategically located close to the US 60
Superstition Frwy.

Leave a Reply

Your email address will not be published. Required fields are marked *

16 − four =