Southwest Products Corp., a diesel engine and power equipment supplier represented by Jeff Conrad, Principal with Lee & Associates Arizona, has sold two Southwest Phoenix industrial properties totaling 33,729 SF in separate transactions for $2.23 million.
“The activity on the buildings was brisk. Both properties were tied up and put into escrow prior to Southwest Products vacating into their new corporate headquarters,” said Conrad. “Two factors drove the activity: the functionality, age and features of both buildings and the scarcity of inventory of freestanding buildings for sale in Southwest Phoenix.”
The first transaction at 5143 W. Roosevelt St. sold for $1.32M or $65.30 PSF. The 20,289 SF warehouse building was sold to Star Metal Fluids, LLC which provides industrial cleaning and lubricating supplies to the metalworking industry. The second property at 5159 W. Roosevelt St. sold for $907,200. The 13,440 SF manufacturing building was sold to Hughes Fire Equipment, Inc. of Phoenix. Price per square foot was calculated at $67.50.
Southwest Products has consolidated their headquarters at a recently opened 165,000 SF, build-to-suit building at 11690 N. 132nd Ave. in the Skyway Business Park in Surprise. Southwest Products is also marketing for sale two adjacent lots of approximately one acre each.