May Department Stores Co. rolled the deed to its former credit center to TC Baseline Group LLC. "The buyer is a value-add buyer with a strong track record and very well capitalized. They are very astute in terms of buying properties and repositioning them in the marketplace," Barry Gabel, a senior vice present in Phoenix for Trammell Crow Co., tells GlobeSt.com.

Located at 4611 E. Baseline Road, the single-story building was constructed in 1999 specifically for St. Louis-based May Department Stores. The building stood on the market about eight months before TC Baseline entered escrow. The facility, which sits on 6.4 acres inside the mixed-use Baseline 46th Street Business Center, is capable of being expanded with a second story, says Gabel.

TC Baseline plans to lease the property to one tenant within three to six months before it decides whether to hold for a few years or sell. The new owner hired TCC to lease the asset. The team's touched base with several interested tenant prospects, but has yet to corner a commitment. Amenities include a cooling tower, fiber optics and a 10-per-1,000 parking ratio.