PHOENIX—Cassidy Turley announces the sale of Superstition Commerce Park, a 15.97-acre industrial project west of the northwest corner of U.S. Highway 60 and Sossaman Road. Phoenix-based Verde Investments, Inc. purchased the property for $8.8 million from Delta SCP, LLC. The buyer is an owner/user and plans to occupy the project.
Cassidy Turley executive managing directors Andy Markham and Mike Haenel and vice president Will Strong negotiated the transaction on behalf of the seller. Lee & Associates represented the buyer.
Markham tells GlobeSt.com, "The property has great freeway logistics. The submarket was a little flat, but we've seen a demand for a medium-sized tenant like this one. There is not a lot of good product like this in that area."
Superstition Commerce Park includes two existing buildings and 5.49 acres of fully improved land for future expansion. The existing buildings are a 49,438-square-foot back office building at 7457 E. Hampton Ave. and a 57,793-square-foot flex/industrial building at 7465 E. Hampton Ave.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
