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$950,000 Changes Hands for Camelback Center

GLENDALE, AZ-The 20,748-sf industrial building satisfies a 1031 Exchange for a Phoenix-based investor. The buyer of 5022 N. 54th Ave. in Glendale gets a fully leased building for the money.

By Beverly Ford | Updated on September 17, 2002

GLENDALE, AZ-The Camelback Commerce Center, a 20,748-sf industrial building, has been sold for $950,000 to Lime Valley Mobile Home Park Co LLC of Phoenix in a 1031 Exchange that gave the buyer a fully leased building in Glendale’s fast-growing industrial center.

Jenifer Lunt, who brokered the deal for the buyers along with Steve Fernandez of CB Richard Ellis Inc.’s Phoenix office, tells GlobeSt.com that the new owners will hold the property as an investment. “They liked the tenants, they liked the location, they liked the return…and it was in the price they needed to be for the exchange,” Lunt said of the transaction.

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