ESI Pipeline Services bought the 7102 W. Sherman St. property from East LA LLC. "ESI is leasing space now and will be able to drastically reduce their operating expenses by relocating into their own facility," says Bo Mills, an SVP in Phoenix for Dallas-based Trammell Crow Co. He and Mark Detmer represented the seller while ESI Pipeline was represented by Bob Deininger with Scottsdale-based Shea Commercial.
Mills tells GlobeSt.com that the facility sold for $68.33 per sf--one of the highest prices for industrial space in southwest Phoenix. "Finding a warehouse with outside storage in Phoenix is very rare," he says.
According to Mills, Pilot Transportation is close to signing a lease with another building owner so it can downsize and vacate for ESI Pipeline. He says the relocation spot should be locked in any day now.
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