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$1M Takes West Valley Industrial Asset

PHOENIX-Building Partnership One pays $1.2 million for a 17,700-sf industrial facility, allowing the Chandler-based woodworking company to expand into the Phoenix submarket with 20 new employees.

By Lee Simmons | Updated on April 22, 2004

PHOENIX-Building Partnership One, a Chandler-based buying entity for Complete Door & Trim, has purchased a 17,700-sf industrial building in the West Valley for $1.2 million. The company closed the deal with Los Angeles-based Americal Properties Co., which is exiting the Phoenix market.

“Business was going well and they needed a northwest location,” Peter Klees, a senior vice president with Grubb & Ellis/BRE Commercial’s Phoenix office, tells GlobeSt.com. “If you look at what prices are in Deer Valley, we got underneath the low watermark.”Located at 1331 W. Melinda Lane, the building was constructed in 1983 with standard industrial amenities including an 18-foot clear height and fenced yard. The building’s interior was refurbished in 2000 following a fire. The property stood vacant at least two years before it was sold, says Klees.

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