Industrial land sale creates value and opportunities

A straight-forward 48.9 acre industrial land parcel sale spurs interest from players looking for a piece of the puzzle. The most compelling part of sale was the several transactions involving portions of this property all before the close of escrow.

Scottsdale Investment Management of Scottsdale purchased the 48.9 acres near the SWC of 39th Ave. & Lower Buckeye Rd. in Phoenix for $6,150,000 or $2.94 per SF. The seller was SAISC, an auto salvage company from Tucson.

Lee & Associates principals Stein Koss and Tom Louer of The Koss|Louer Team represented Scottsdale Investment Management. Rob Martensen of Colliers International represented SAISC.

During escrow, several other transactions were completed:
Interstate Distributer Co. of Tacoma, WA leased a 9.87 acre parcel for fi ve years. The Koss|Louer represented Scottsdale Investment Management while Tom Knaub of Colliers represented Interstate.

JB Hunt Transport, an existing tenant on 7.75 acres renewed their existing lease for an additional two years.

Schneider Trucking stepped in and was assigned a 25-acre portion of the transaction. They were represented by Burr & Tempkin, Kansas City, MO.

A fi nal piece to the multi-faceted transaction has Schneider Trucking showing interest in the remaining 6 acre-parcel for a driver training operations center.

POSTED: . TAGS: , , , , , ,

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.