A 38,225 SF, freestanding retail building at Emerald
Design Center, 1725 West Ruby Dr., Building C in Tempe, has sold in an
all-cash deal for $2,600,000 or $68.02 per SF.
Lee & Associates principals Rick Robertson, Dave Johnson and Jerry
Marrell negotiated the transaction for both the seller, Granco Enterprises
of Tustin, CA and the buyer, Otium Real Estate Co. of Scottsdale, AZ.
Otium is the owner/user entity of the current tenant, Salt Creek Home, a
furniture store which has been leasing the building since 2010.
Built in 2006, the showroom/warehouse building is part of the
250,000 SF Emerald Design Center which features an eclectic mix of home
furnishing retailers in the East Valley. The building features an evapcooled
warehouse, 24’ clear height, 5 truckwells, 7 roll up doors and a
150-car parking lot. The center is located across from IKEA Furniture and
off ers an excellent, high-traffi c location near the intersection of I-10 and