Denver-based Mountain West Industrial Properties was the first and only offer for the 1980s-era building, which is located at 4720 W. Van Buren St., according to Bo Mills, a vice president with Trammell Crow Co.'s local office. Mills and TCC's Mark Detmer brokered the sale. "Mountain West had the capital and an understanding of the Southwest Valley since they own other assets in the market," Mills says.

Mills tells GlobeSt.com that Mountain West offered an all-cash price above the expectations of Salt Lake City-based Deseret. "They would have been happy with a offer in the mid-$30 per sf," he says. Deseret had owned the building since 1996 and had reached the end of its investment horizon, he explains.

Mountain West was attracted to the convenient location in the Papago West Business Park near Interstate 10. In addition to the location, the buyer liked the building features, which include Van Buren Road frontage, dock-high doors, 24-foot clear height and railservice.