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127,680-SF Industrial Building Corrals $5M

PHOENIX-Local investor Jonathan Tratt convinces Rreef to part with a deed in a $5.2-million off-market transaction after hearing restaurateur Little Caesars Inc. was looking for cold storage space in the Southwest Valley.

By Jennifer D. Duell | Updated on October 06, 2004

PHOENIX-Local investor Jonathan Tratt has acquired a 127,680-sf industrial building in the Southwest Valley in a $5.2-million, off-market transaction with the San Francisco-based Rreef.

Tratt pursued the deal for 420 S. 53rd Ave. after hearing that pizza restaurant, Little Caesars Inc., was looking for cold storage space in the Southwest Valley submarket, says Stein Koss of Lee & Associates Arizona who brokered the deal along with colleagues TJ Swearengin and Chris McClurg.

Koss tells GlobeSt.com that a lease commitment from Little Caesers was the impetus for Tratt to acquire the building. “The building is now 100% leased,” he says.

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