Lee & Associates Represent Buyer, Seller in $4.7M Freeport Center Sale

PHOENIX - Dec. 6, 2016 - PRLog -- Four Lee & Associates brokers recently negotiated the $4,700,000 all-cash sale of a 75,786 SF industrial warehouse building at Freeport Center, 5520 W. Maricopa St., Phoenix. The price per SF was $62.02.

Lee & Associates Principals Allen Lowe and Steve Farrell negotiated on behalf of the seller, Maricopa-Phoenix (KBP), LLC. Principals Rick Robertson and Scott Smith represented the buyer, Exeter Property Group, Conshohocken, PA.

"We are very pleased to have put a transaction together on this property at well-below replacement cost," said Robertson. "These types of fully-leased distribution buildings have been very popular with our investors lately."

Built in 2002, the fully-leased warehouse features 30' clear height, 12 exterior dock doors, heavy power and a 185' truck court.

The property is conveniently located just south of I-10 and just east of the under construction Loop 202 (South Mountain Freeway) and is expected to be completed in 2019.

For more information:

RICK ROBERTSON
PRINCIPAL
602.954.3748; rrobertson@leearizona.com

SCOTT SMITH
PRINCIPAL
602.954.3768; ssmith@leearizona.com

STEVE FARRELL
PRINCIPAL
602.954.3746; sfarrell@leearizona.com

ALLEN LOWE, SIOR
PRINCIPAL
602.954.3747; alowe@leearizona.com

About Us:

Now in its 25th year, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, investment, multifamily, and land 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 57 North American offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network. www.lee-associates.com