Tolleson Commerce Center Buildings Sold to Local Investor for $4.48 Million

TOLLESON, AZ – April 24, 2013 – (RealEstateRama) — Tolleson Industrial, LLC of Scottsdale purchased fi ve, warehouse buildings totalling, 86,050 SF for $4,484,926. Price per SF was calculated at $52.15. Denver-based Tolleson Commerce Center, LLC was the seller.

The property, located just off the SW corner of 83rd Ave and W. Sherman St., in Tolleson, feature 4 freestanding buildings at 14,000 SF each and one building at 30,050 SF. The buildings were all built in 2008 and feature grade-level and truckwell loading, large yards, sprinklers, vaporative cooling and 18’-24’ clear height ceilings.

Steve Farrell and Allen Lowe, Principals with Lee & Associates Arizona negotiated the transaction on behalf of the parties. “This was an excellent opportunity for our clients to add to their growing portfolio of properties,” said Farrell. “Both sides were determined to get this deal over the fi nish line,” he added.

The highly-favored location in the Southwest Valley is in close proximity to transportation corridors such as Interstate 10 and the Loop 101. Tolleson is located ten miles directly west of Downtown Phoenix and is a strong commercial and industrial hub. Major employers include, Costco, Papa John’s Produce and Salad and Staples.

About Lee & Associates Arizona
Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, offi ce, land and investment sectors of the Phoenix commercial real estate market. The Phoenix offi ce was established in 1991 and is now recognized as one of the most successful brokerage fi rms in the state. Each of the 47 nationwide Lee & Associates offi ces has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

For more information: Steve Farrell, 602.954.3746
sfarrell (at) leearizona (dot) com
Allen Lowe, 602.954.3747
alowe (at) leearizona (dot) com

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