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Airport South Building Lands About $2M

PHOENIX-A Phoenix private investor has purchased a brand-new speculative industrial building for $1.7 million, citing amenities like power, fenced and paved yard and central location as the deal maker. The 24,892-sf building includes 2,200 sf of office space.

By Lee Simmons | Updated on April 16, 2004

PHOENIX-The Camille Donaldson Trust of Phoenix has purchased a 24,892-sf industrial building in the Southern Gardens Industrial Park from Phoenix-based Daji LLC for $1.7 million. The building, completed in January, was part of a tax-deferred exchange deal for the buyer.

“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.

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