Lee & Associates Brokers $2.6M Sale at Tempe’s Emerald Design Center

TEMPE, Ariz. - Nov. 6, 2014 - PRLog -- 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 evap-cooled 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 offers an excellent, high-traffic location near the intersection of I-10 and Warner Road.

For more information:

Dave Johnson, 602.954.3745, djohnson@leearizona.com
Jerry Marrell, 602.954.3744, jmarrell@leearizona.com
Rick Robertson, 602.954.3748, rrobertson@leearizona.com

About Us:

Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, land and investment sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state. Each of our nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.