A Phoenix-based investor, 1060 & 1050 Eliseo, LLC, purchased two buildings at Rio Estrella Commerce Park, a multi-tenant industrial complex at 1050-1060 N. Eliseo C Felix Jr. Way in Avondale.
The sale included a 28,317 SF building at the 1060 address that sold for $945,000 and a 28,400 SF building at the 1050 address that sold for $1.05M.
Lou Finocchiaro, SIOR, with Cassidy Turley Arizona’s Industrial Group, represented the buyer, as well as the seller of the 1060 property, Liberty Capital Partners II, LLC.
Bob Buckley, Tracy Cartledge and Steve Lindley, with Cassidy Turley Arizona’s Capital Markets Group represented the seller of the 1050 building, Corona Vista Properties.
According to Finocchiaro, Rio Estrella Commerce Park offered the buyer a unique market niche in the Southwest Valley.
“Demand for incubator space is slowly beginning, and these buildings provide the opportunity for an individual or company to lease smaller industrial bays, under 2,500 SF,” Finocchiaro said. “Most of the buildings in the Southwest Valley aren’t divisible to this size, making Rio Estrella Commerce Park a good location for a start-up or small business owner who may be coming out of their home or garage.”
Finocchiaro has the leasing assignment for Rio Estrella Commerce Park.