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Sky Harbor Building Nets $1.1M

TEMPE, AZ-A California buyer, satisfying a 1031 Exchange, gets a 14,911-sf, fully leased building in the Sky Harbor Industrial Park. The private investor's tenant is a health-care firm with three years to go on its lease.

By Beverly Ford | Updated on October 21, 2002

TEMPE, AZ-Three months after it went on the market, a 14,911-sf, fully leased industrial building has been transferred by its Canadian owner to a California buyer, who found the $1.1-million price tag “a good value.”

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.

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