"They felt that this was a nice building that had good leasing potential," Jim Stockwell, a principal with Ross Brown Partners of Phoenix, tells GlobeSt.com. "It's a market where the leasing activity is getting better."

The building is located at 2415 E. Pecan Road in the 250-acre Southern Gardens Industrial Park in the South Airport submarket. The single-user structure includes a fenced and paved yard, good power supply and 2,200 sf of office space. The relatively quick closing deal lasted only 60 days and proved advantageous to both parties, Stockwell says. The buyer had readily available trade money to put toward the purchase, and the seller had an asset with strong lease-up potential.

Industrial occupancies in Airport South--at 92%--are stronger than other submarkets in the Phoenix region, according to Stockwell. The area is ripe with redevelopment activity as well, which should help the new owner in securing a tenant in the near future.