Former Ashley Furniture Warehouse Sells for $3.95M to RacePRO Products

A 140,651 SF former Ashley Furniture distribution building at 2929 NW Grand Ave., Phoenix, has recently sold to RacePRO Products for $3,950,000. Price per SF was calculated at $28.08.

Lee & Associates Arizona Principals Rick Robertson and Scott Smith negotiated the transaction on behalf of the seller, Southwestern Furniture of Wisconsin, LLC, Arcadia, WI. Alexy Zaboltolskikh and Craig Yocum of Lee & Associates Riverside, CA, represented the buyer, RacePROProducts, San Bernadino, CA.
RacePRO Products had leased the building in August 2016 with an option to purchase. Ashley Furniture moved from the Grand Ave. warehouse in 2016 to a larger location near 35th Ave. & West Van Buren St., Phoenix.
San Bernadino, CA-based Race Pro Products off ers a complete line of professionally formulated oils, lubricants, window wash, antifreeze, coolants and additives for maintenance and enhanced performance of motor vehicles, marine vessels and industrial machinery.

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