International Buyer Takes 90,463 SF Manufacturing Building in Phoenix for $5.65 Million

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Phoenix - Arizona - US


PHOENIX - Feb. 16, 2017 - PRLog -- Lee & Associates is pleased to announce the sale of a 90,463 SF industrial manufacturing building at 4501 W. Polk St., Phoenix, for $5,650,000 SF. Price per square foot was calculated at $62.46. The property was vacant at the time of sale.

Principals Chris McClurg and Pete Batschelet secured the buyer, Scientex Phoenix, LLC, of Malaysia. Mark DiSabato, Principal with Atlantis Commercial, represented the seller, Dominion Enterprises, Norfolk, VA.

Scientex intends to start operations in Q2 2017 and will utilize the building for it's plastics extrusion line. This is their first expansion into the U.S. market and they intend to create up to 60 local jobs by year-end.

"We were excited to be working with international clients making their first foray into the Phoenix market. Scientex officials were very clear about what they wanted, which made the selection process a positive experience from the start," said McClurg.

The building sits on 3.58 acres and was constructed in 1986. It features an active rail line, heavy power, 10 exterior dock doors and 30' clear height. The property is strategically located less than a half mile south of I-10 and just east of the future Loop 202 freeway, which is currently under construction.

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Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, retail, 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 North American Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

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Matt DePinto
Source:Lee & Associates
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Tags:Commercial Real Estate, Industrial, Arizona
Industry:Real Estate
Location:Phoenix - Arizona - United States
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