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Paradise Valley Flex Center Sells for $3M

PHOENIX-Local investors put down just under $3 million for a 24,000-sf flex building in North Phoenix. The deal is one of a few of its kind since combination retail and warehouse properties are in short supply and high demand.

By Lee Simmons | Updated on April 08, 2004

PHOENIX-T-Bird Rex LLC has purchased a 24,480-sf flex building for nearly $3 million from All Wood Furniture, one of its tenants, in Paradise Valley. Known as the All Wood Furniture Plaza, the fully leased building is one of few such flex spaces to recently hit the market.

“With the retail environment up there and that type of product, it is in pretty short supply. Given the building and its quality, that made it desirable for an incoming owner-user,” Rick Collins, an associate with Phoenix-based Ross Brown Partners, tells GlobeSt.com. “Anybody who’s looking for a retail showroom in North Phoenix, you can serve in Phoenix and Paradise Valley quite nicely from that location.”

Located at the northwest corner of Tatum and Thunderbird roads, the All Wood Furniture Plaza, constructed in 1998, is fully leased to tenants such as All Wood, the Sofa Factory, and Toliver’s Carpet–all with showrooms. The Sofa Factory is the most recent tenant to move in, serving as the building’s anchor with 9,600 sf of showroom and office space.

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