"The location on Rio Salado Parkway was key," Mark Linsalata, a broker with Lee & Associates Arizona of Phoenix, tells GlobeSt.com. "There's also a retail project that is going to be built directly to the north."
Located at 1817 E. Rio Salado Parkway, the 20-year-old buildings are part of the Eaton Freeway Business Park and will serve as the company's wholesale showroom and warehouse for furniture and accessories, according to Linsalata. The firm plans anend-of-April move-in.
Location was priority in the deal, Linsalata says, as Aziz noted the 101-202 freeway interchange and high-traffic Rio Salado Parkway as factors motivating their purchase. Both single-story buildings will be utilized for warehouse and showrooms for the company's retail customers. A small portion also was set aside for office use.
The deal was also a timely one with SimRidge declaring bankruptcy immediately following the sale, says Linsalata, who represented both parties in the deal.
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