Lee & Associates Arizona

Nationally recognized marketing service agency LaneTerralever, is relocating from its 22,864 SF, Midtown headquarters at 725-733 W. McDowell Rd., Phoenix to a larger office at Missouri Falls, 645 E.

A 53,500 industrial manufacturing building once occuied by Schuff Steel at 619 N. Cooper Rd., Gilbert, sold for $3,840,000 or $71.78 per SF. The sale closed on August 2. The site is located in Gilbert's last remaining heavy industrial area.

A 31,200 SF, multi-tenant industrial warehouse at 444 W. 21st St., Tempe, sold for $3,080,000 ($98.72 per SF). At the time of sale, the property was 100 percent occupied with three tenants.

DeMuro Corporate Square, a 7-building business park totaling 88,837 SF at 1505-1575 W. University Dr., Tempe, has sold to a California investment entity for $10,200,000. Occupancy was reported to be 92%. The transaction closed on June 30.

Government Employees Insurance Co. (GEICO), has renewed and expanded their office lease to 5,402 SF at Desert Ridge Corporate Center, 20860 N. Tatum Blvd., Phoenix. The full-service lease runs for 5-plus years.

Estancia, a 62-unit multifamily community at 3620 N. Miller Rd., Scottsdale, sold for $6,900,000 or $172.63 per SF ($111,290 per door).

Three commercial land parcels that total 5.3 acres just east of the northeast intersection of Rural and Baseline roads, has sold for $3,200,000. Price per SF was calculated at $13.91 per SF.

The Fincham Dempsey Team at Lee & Associates Arizona is pleased to announce the sale of the 56,439 SF Scottsdale Business Center, 13402 N. Scottsdale Rd., Scottsdale, for $7,300,000.

A freestanding industrial showroom/warehouse at 18453 N. 7th Ave., Phoenix, has sold to a veterinary business for $1,374,000 or $122.94 per SF. The buyer, 1st Pet Vet Centers, will occupy the entire space.

Club 7 Apartments, a 219-unit, urban infill multifamily community at 3030 N. 7th St., Phoenix, sold for $19,000,000 or $86,758 per door.