Lee & Associates Arizona

The Phoenix office market had a strong showing in Q3, posting the highest absorption in six quarters.

Phoenix Industrial Sector closing in on 2016 in strong position PHOENIX, AZ – The Phoenix industrial market finished the third quarter in great shape.

A Tempe manufacturing firm closed on the purchase of a 51,986 SF building at 2920 E. Chambers Dr. in Phoenix for $2,760,000 or $53.09 per SF. Lee & Associates Principal Ken McQueen represented the buyer, Arcadia, Inc.

The city of Chandler’s Mayor and city council gave a unanimous green light for future development of a nearly 4-acre land parcel on Gila Springs Place, west of Kyrene Road for future industrial development.

A 352,415, Class A distribution/manufacturing building at 5125 E. Madison St., Phoenix, sold for $14,700,000 in a September 4 transaction. Price per square foot was posted at $41.71.

A 96,000 SF manufacturing building at 6615 W. Boston St. in Chandler sold for $5,875,000 or $61.20 per SF. Lee & Associates Principal Matt McDougall represented the buyer, Evergreen Industrial Properties, LLC of Oakland, CA.

Top Tier Tenants Bring Desert Ridge Corporate Center to 95% Occupancy Two office leases totalling 47,372 SF were leased at Desert Ridge Corporate Center I and II, 20830-20860 N. Tatum Blvd., in Phoenix.

The Fincham Dempsey Team were successful in selling two Glendale, Arizona shopping centers in the final week of July. Glendale Market Square & Arrowhead Plaza were sold satisfying 1031 exchanges for the buyers for a total of $38,600,000.

Lee & Associates Arizona is pleased to announce the promotion of Kurt Saulnier to Principal. This significant accomplishment is the result of his strong work ethic and teamwork.

A 33,400 SF warehouse at 1917-1965 W. First St., in Tempe near Rio Salado Pkwy. and Priest Dr. sold for $3,316,010 or $99.28 per square foot in an all-cash deal.