Donald and Mary Lou Hobbs bought the 43-year-old building at 2806 N. 24th St., located adjacent to the historic Green Gables restaurant, in a deal that gave them a fully occupied property within two miles of the Camelback Corridor, Steven Lindley, managing director for Insignia/ESG in Phoenix tells GlobeSt.com. "It has a great central location," said Lindley. "A lot of companies want that proximity, but you just can't find industrial near the Camelback Corridor."
Tenant Symbolic Productions, a multimedia company, currently occupies the building. It has 2 1/2 years remaining on a five-year lease, Lindley said.
Lindley and managing directors Robert Buckley and Tracy Cartledge along with associate director James Harper and associate Greg Mayer negotiated the transaction for the buyer and the seller, Green Gables Properties LLC of Gilbert, AZ.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
