Phoenix-based LF Enterprises LLC purchased the 1820 W. Knudsen property for about $1.6 million from the building's developer, Gold Creek Development, and plans to lease the structure to its subsidiary firm, Kenz and Leslie of Arizona, Gary Anderson, with Grubb & Ellis Co.'s industrial division, tells GlobeSt.com.
"It will be owner occupied," he said of the property, located in the North West Airpark near 19th Avenue and Deer Valley Road. Built in 2000, the building, which also contains about 1,500 sf of office space, has been on the market since it was completed. Anderson said the tenant will use the property as a distribution center for high-end racing products.
Anderson, along with Marc Hertzberg, also with Grubb & Ellis' industrial team, represented the buyers in the transaction. Matt Hobaica and Mark Linsalata with Lee & Associates Arizona negotiated the deal for the seller.
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