Mayesh Wholesale Florist of Los Angeles inked the all-cash deal with Southwest Property Ventures of Phoenix after identifying the building's size and location at 1805 W. Crest Lane and a mile north of Loop 101 as incentives. "They came at a time after we had seen some other activity on this specific building. We actually had an offer but it didn't transpire," John Lewis of Southwest Property Ventures, tells GlobeSt.com. He says some investment interest arose during construction from last September through May, but Mayesh quickly emerged as the preferred investor thanks to its broker representation.

Mayesh's acquisition is one of 19 warehouses being developed in Southwest Property's 15-acre Deer Valley Commerce Park. The park sits directly north of Deer Valley Airport and is geared toward owner/users, says Lewis. Kirk Jenkins and Steve McKendry, both with GVA Daum Commercial Real Estate Services in Phoenix, represented buyer and seller.