The company plans to build a 30,000-sf distribution facility, relocating from 2940 W. Osborne Rd. "They wanted to control their own space," says Jeff Conrad, a principal with Lee & Associates Arizona.
Conrad tells GlobeSt.com that Southwest Post-Tension got a very good buy on the land, which sold for roughly $2.75 per sf. "There has been a dramatic reduction in the amount of improved industrial land that is available," says the buyer's broker.
According to Conrad, Southwest Post-Tension was attracted to the land tract because of the image it offered within a nice business park. Additionally, the company liked the proximity to Interstate 10 and Central Phoenix.
Steve LeMert, a local land and building owner, sold the land to take advantage of the demand in the market. He was represented by Andy Cloud of Grubb & Ellis/BRE Commercial LLC.
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