Arizona Republic Distribution Building Nets $3.6M in Investment Transaction

PHOENIX - Oct. 26, 2015 - PRLog -- A 35,000 SF distribution building at 7444 E. Hampton Ave., Mesa, has sold for $3,600,000 or $103.00 per SF. The property is leased to Phoenix Newspapers Inc., parent to The Arizona Republic.

Matt Hobaica, Principal with Lee & Associates represented the buyer, Greenwood & McKenzie Real Estate Investments to the table. The owner, E & H Smith & Evelyn Smith, L.P. were represented by Barry Gabel and Chris Marcildon of CBRE.

"This was a rare opportunity to purchase a quality single-tenant, fully-leased industrial building in the East Valley," Hobaica said.

The property was constructed in 2000 as a built-to-suit for Phoenix Newspapers and sits on 4.4 acres. The building features grade level and truck well loading, excellent parking ratio of 6.83 spaces per 1,000, back-up generator and is strategically located close to the US 60 Superstition Frwy.

For more information:

Matt Hobaica, Principal
602.954.3755; mhobaica@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.