Lee & Associates Archives

Phoenix industrial facility sells for $2.55M

industrial facility
by in AZRE Magazine | Industrial

Arizona-based Commercial Properties, Inc. (CPI) negotiated the sale of an industrial building at 6902 W. Hadley St. in Phoenix. Lee & Associates represented the tenant, Sun Country Trailers, who exercised their lease purchase option and purchased the property for $2.55 million. The building is approximately 51,250 square feet, and was originally built in 1996 and is… Read More →

Lee & Associates hires retail leasing and investment principal

ABI Multifamily
by in AZRE Magazine | Newsmakers

Lee & Associates Arizona hired Sean M. Bishop, CCIM as principal. Bishop brings extensive experience in retail investment and tenant and landlord representation. Since 2008, Bishop was a principal and designated broker at Middlefork Commercial, LLC, a Phoenix-based commercial real estate firm that provided leasing, investment sales, tenant representation and property management services. “We are pleased to have… Read More →

Former RoomStore sells for $8.25M

RoomStore
by in AZRE Magazine | Brokerage | Retail

The former RoomStore furniture store at 15826 N. Scottsdale Rd., in Scottsdale sold for $8,250,000 or $263.00-per-square-foot. The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location. Tom Boyle, principal with Lee & Associates, brokered the transaction. The buyer was Phoenix-based Bridge Enterprises LLC, Phoenix, and Scottsdale-based DJD Property Holdings LLC, was… Read More →

Tucson Raytheon Missile Systems flex building sells for $10.5M

Raytheon Missile Systems
by in AZRE Magazine | Office

Lee & Associates facilitated the sale of a 72,000-square-foot former Raytheon Missile Systems flex office building at 3360 E. Hemisphere Loop, Building M10, Tucson for $10,500,000. Price-per-square-foot was calculated at $145.83. Lee Principals Jerry Marrell and Dave Johnson negotiated on behalf of DCG IV, LLC, a Seattle-based investment firm. Lee Principal Pete Batschelet procured the buyer, 3360… Read More →

Pharma firm leases 30KSF in Scottsdale

7400 E. Tierra Buena Ln.
by in AZRE Magazine | Office

Cushman & Wakefield announced today that West Pharmaceutical Services, Inc. leased approximately 30,500 square feet (SF) at 7400 E. Tierra Buena Lane in Scottsdale, Ariz. Cushman & Wakefield Executive Director Jim Wilson represented the tenant in the lease negotiations. The landlord, GH Scottsdale I, L.L.C. in partnership with Hewson Development Corporation, was represented by Mark Linsalata… Read More →

Tempe industrial park sells for $8.9M

Tempe Industrial Park
by in AZRE Magazine | Industrial

The Cal-Eaton Industrial Park at the southeast corner of Smith Road and Fifth Street in Tempe, sold for $8,950,000 or $84.00 per-square-foot. The transaction closed on June 30 and was 99 percent occupied at the time of sale. Lee & Associates Principals Kurt Saulnier, Pat Dempsey and Jan Fincham represented the Tempe-based seller Cal-Eaton Properties, LP. Cal-Eaton… Read More →

Phoenix property bought for candle making

3120 E. Washington
by in AZRE Magazine | Industrial

NAI Horizon Senior Vice President Isy Sonabend represented the buyer in the $2.215 million sale of an industrial property at 3120 E. Washington St. in Phoenix. NAI Horizon represented Remet Real Estate Holding Company, LLC, of Delaware. Built in 1994, the 22,635-square-foot building sits on 2.34 acres and will be used as a manufacturing facility… Read More →

Valley infill development gets creative

1-Liberty-Center_Site-Entry
by in AZRE Magazine

With the real estate market taking a positive turn in investments, buyers and sellers are beginning to think about creating long-term office locations. While the future of the dynamic market is undetermined, tenants know they want to create work-play environments rather than a block of concrete buildings. “Capital is definitely flowing into Phoenix,” says Jami… Read More →

Lee & Associates broker $1.65M warehouse sale

ORION
by in AZRE Magazine | Brokerage | Industrial

A 14,728 square-foot warehouse building at 4200 E. Broadway Rd., Phoenix, sold for $1,651,000 or $112.10 per square-foot, according to Lee & Associates. Lee & Associates Arizona brought both sides of the deal to the table. Matt Hobaica, principal, represented the buyer, KJB Supply Co., while Jeff Conrad and Andy Ogan, principals, represented the seller, John… Read More →

Phoenix industrial market finishes year strong

Phoenix Industrial Market
by in AZRE Magazine | Industrial

Phoenix’s industrial market had an exceptional final quarter in 2015, according to a Lee & Associates report. The improving economy, including consumer confidence, a rising home market and lower unemployment, have fueled the industrial sector’s healthy year, the report stated. Construction activity remains at a healthy clip and a strong pipeline remains in place. This… Read More →

Phoenix office sector finishes 2015 on upswing

Miller Russell Associates
by in AZRE Magazine | Office

The Phoenix office sector took a strong turn to finish the fourth quarter in solid fashion. The year started off slow, but picked up momentum as the year progressed and accelerated the pace into the final months, according to a Lee & Associates report. Most all major indicators were positive for the quarter and for… Read More →

Craig Coppola earns Lifetime Achievement Award

Lee & Associates Founder Bill Lee, Craig Coppola and CEO Jeffrey Rinkov.

Lee & Associates’ most accomplished broker, Craig Coppola, received the company‘s highest honor, The William J. Lee Lifetime Achievement Award, for 2015. The award was presented by CEO Jeffrey Rinkov and company Founder Bill Lee at the Lee Broker Summit at the Encore Hotel in Las Vegas in October. The award was created to recognize the embodiment… Read More →

Lee & Associates broker 2 Buckeye land deals

Sundance Land Sites

Two commercial land transactions in Buckeye totalling just over 54 acres, sold for $4,000,000 ($74,061 per AC) or $1.70 per SF. The buyer and seller were the same for both parcels and was part of a 1031 Exchange. Plans are to hold the properties for future investment. Lee & Associates principals Mark Linsalata and Nate Bubeck… Read More →

Investors buy Peoria Mountainside Fitness for $7.1M

Mountainside Fitness

A 40,000 SF Mountainside Fitness at 9745 W. Happy Valley Rd. in Peoria, sold for $7,120,000 or $178.00 per SF. Patrick Dempsey and Jan Fincham, Principals with Lee & Associates, negotiated for both sides of the transaction. The buyer was Store Master Funding II, LLC of Scottsdale while the seller was Barclay/ Pleasant Valley, LLC… Read More →