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Brownie Bakery Pays $1M for Cotton Center Land

PHOENIX-Fairytale Brownies buys 2.7 acres for a 30,000-sf build-to-suit to house its bakery and headquarters operations. Industry sources speculate the building will cost close to $4 million.

By Jennifer D. Duell | Updated on April 06, 2005

PHOENIX-Fairytale Brownies Inc. will build a 30,000-sf building to house its bakery and headquarters on 2.7 acres bought for $1 million in cash. The specialty brownie baker now operates out of 15,000 sf in nearby Chandler.

The bakery’s chiefs bought the land from RBK Development Inc., getting acreage near the intersection of Cotton Center Boulevard and Cotton Gin Loop. Sources familiar with the deal speculate Fairytale Brownies will pay close to $4 million for the build-to-suit, which is scheduled to break ground later this year.

“Their business is growing so they needed more space than the 15,000 sf they have now,” says Andy Markham, a vice president with Grubb & Ellis

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