Lee & Associates Arizona

Avenue5 Residential recently signed a long-term office lease for the entire 2nd floor at Anchor Centre West, 2201 E. Camelback Rd., Phoenix.

A 64,856 SF manufacturing building at 4039 E. Raymond St. in Phoenix recently sold for $3,600,000 ($55.51 per SF) to make way for a 90,000 SF office building.

Two high-profile shopping centers sold in separate transactions in the past 60 days: Fry’s Food Store-anchored 51st & Olive Square at 5116 W. Olive Ave., Glendale for $9,250,000 ($165.40 per SF) and Playa Del Norte, 555 N.

Lee & Associates is proud to announce the promotion of Pete Batschelet to Principal. Pete began his career in commercial brokerage in 2006.

The Better Business Bureau (BBB) has purchased two office buildings with a combined SF total of 25,918 SF at 1002-1010 E. Missouri Ave., Phoenix for $4,300,000. Price per SF was posted at $165.91 SF. The transaction closed on 10/22.

Fortune 500 company, LKQ Corp., has signed a 10-plus year lease agreement for an additional 46,054 SF at Canal Crossing Logistics Center, 5670 S. 32nd St. in Phoenix. The company will now occupy 100% of the 155,114 SF building.

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.

Lee & Associates is pleased to announce the sale of two industrial buildings totalling 115,742 at 2114 W. 7th St. and 2105 W. 5th Place in Tempe, for $11,500,000 or $99.36 per SF.

Lee & Associates is pleased to announce the promotion of Conner Lee to Associate on October 1, 2015. Conner started his career in commercial brokerage in the Lee research department in 2011.

A bus transportation company purchased a property at 2239 N. Black Canyon Hwy. in Phoenix for $2,875,000 or $49.82 per SF in a transaction that closed on 10/9.