Curtis Brown of Ross Brown Partners in Phoenix tells GlobeSt.com that buyer John James satisfied a 1031 Exchange with the purchase of the 1725 W. First St. building in the Sky Harbor Industrial Park. The property was considered well worth the money. "The bldg was in excellent condition. It was the right size. It satisfied his trade and he felt it was a good value," said Brown, who represented Southland Properties from Alberta, Canada, in the transaction.
The single-tenant property is occupied by Coram Health Care, which provides chemotherapy treatment to housebound patients. The health-care firm, which has three years remaining on its lease, has its administrative offices along with a pharmacy and special medical refrigeration units at the site. The buyer was represented in the transaction by Rick Lee of Phoenix-based Lee & Associates Arizona.
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