A 35,328-SF distribution facility at 18808 N. 32nd St.,
Phoenix has sold to a Tustin, CA-based fi rm for $4,500,000 or $127.37 per SF.
Phoenix Newspapers Inc., parent company to The Arizona Republic, occupies the
Lee & Associates principal, Matt Hobaica, represented the buyer,
Greenwood & McKenzie Real Estate Investments. The owner, E & H Smith &
Evelyn Smith, L.P., were represented by Barry Gabel and Chris Marcildon
of CBRE. Last year, both fi rms worked on the investment sale of another
Phoenix Newspapers distribution building at 7444 E. Hampton Ave., Mesa,
that sold for $3,600,000.
“Since Greenwood & McKenzie had already purchased the Phoenix
Newspapers facility in Mesa, it was logical to acquire their Northeast
Phoenix distribution location as another quality and versatile asset,”
Built in 2001, the project sits on 4.49 acres and was a built-to-suit for
The Arizona Republic. The building features 1 drive-in door, 3 truck wells and
approximately 2,000 SF of offi ce space. It is located in Northeast Phoenix
and is close to the SR 51 (Piestewa Frwy.) and the Loop 101 (Agua Fria Frwy).