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Ongoing Industrial Disposition Triggers $4-Mil Sale

PHOENIX-W.L. Gore & Associates, the patent holder for Gore-Tex, continues it Arizona disposition, selling a 54,900-sf industrial holding in Pointe at South Mountain Business Park. Modern Industries' $4-million buy includes about five acres of raw land.

By D.J. Burrough | Updated on July 19, 2001

PHOENIX-A 54,900-sf industrial building in south Phoenix’s Pointe at South Mountain Business Park has gone for $4 million in a sale to Modern Industries, a high-tech manufacturing company.

The structure is located at 4755 E. Beautiful Lane, which is just south of Baseline Road and a half-mile west of Interstate 10. The purchase price, which includes about five acres of raw land, equates to $72.85 per sf. Modern Industries plans to expand its business with the new building, bringing in as many as 50 employees to the site. The company is headquartered in Phoenix about six miles north of the new building.

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