Tag Archives: Matt Hobaica

Courtesy of Lee and Associates

Lee & Associates to market Cabot Commerce Center

Lee & Associates Arizona has been awarded the marketing assignment at Cabot Commerce Center, a three-building project totaling 227,160 square feet. Lee & Associates principals, Jeff Conrad, Matt Hobaica and Chris McClurg were tasked with securing tenants for the general industrial multi-tenant development.

These institutional quality buildings feature grade level and truckwell loading (per bay), 24’ clear height and a secure truck court. Located just off Loop 101 & Cactus Road in Peoria, the project offers direct freeway access and exposure. The project, which was built in 2008, is currently 59% occupied with available space ranging from 4,856 square feet to 31,551 square feet.

“There are very few opportunities available to tenants searching for space in the Arrowhead/Loop 101 corridor that offer small bays equipped with a truckwell, said Conrad. “With the highly visible location and competitive pricing in comparison to product of similar features and vintage in Deer Valley, Cabot Commerce Center can offer best-in-class space at a great price to tenants looking to locate or expand in this growing submarket.”

Current tenants in the project include Orkin, Truly Nolan, Factory Motor Parts, RE Michel Company and Innovative Creations.

The Lee team offers 60 years of combined experience in lease up of speculative development of multi-tenant industrial parks and provides asset advisory and disposition services for their clients. The team has completed 2,547 transactions totaling more than $1.5 billion in this market. Cabot Properties is a private equity real estate investment fi rm. The firm is a leading investor, developer and operator of industrial properties throughout North America and the United Kingdom. Formed in 1986, Cabot has invested $6 billion in industrial real estate, managing and operating approximately 3,000 tenants in more than 141 million square feet.

Lee & associates industrial aerial, web

11.58-acre, SW Phoenix industrial facility sold for $2.93M

Four buildings totaling 18,496 SF on 11.58 acres of land at 8164 W. Buckeye Rd. in Phoenix, has sold for $2,925,000.

The transaction was recorded on September 8. Lee & Associates principals Matt Hobaica, Allen Lowe and TJ Swearengin negotiated on behalf of the owner, MidFirst Bank. Hobaica secured the buyer, EMC Holdings, LLC of Phoenix which will use the property for their truck transportation business.

The property located at 83rd Ave. and Buckeye Rd. is currently being used as a trucking facility and features heavy industrial (I-2) zoning and multiple service bays. The site is fully-fenced with rolling gates and has a 2-acre, hard corner parcel within the property that can be sold or leased for a retail pad opportunity.

609 W. Knox, WEB

Lee & Associates reports two industrial transactions in Tempe

59,375 SF Manufacturing Building Sells for $2.4M
A Tempe manufacturing building at 1531 W. 17th St. in Tempe, sold for $2.4M. The 59,275 SF facility brought a price SF of $40.42. The transaction was completed on June 26.

Lee & Associates principals, Matt Hobaica and Matt McDougall represented the seller, JCS, LLC of Tempe. The facility was the former home of All Pro Industrial, LLC. Paul Timm of Trust Realty Advisors represented the buyer, Lexkel, Inc. of Mesa, AZ.

The 1981-built building sits on 3 acres and features heavy power, a fenced yard, natural gas, A/C and Evaporative production areas and four grade level loading doors. It is located just east of the Interstate 10 and Broadway Rd. curve and is close to Phoenix Sky Harbor International Airport.

18,730 SF Manufacturing Facility Trades for $2.15M
An 18,730 SF freestanding manufacturing facility at 609 W. Knox Rd. in Tempe, sold for $2.15M or $114.79 per SF. The sale closed on July 7th on an eleven day escrow.

Lee & Associates Arizona Principals represented both sides of the transaction. Stein Koss and Tom Louer represented the buyer, Broadway-Genesis, LLC of Tustin, CA while Ken McQueen, Principal, represented the seller, Fleet Wing Holdings, LLC of Tempe. The building previously was headquarters for Spectrum Aerospace.

The transaction was a 1031 exchange for the buyer and represented an 8.15% cap rate on a seven year sale/leaseback.

Built in 2006, the 2-story, single tenant building features 4,000 SF of office and two drive-in doors. The facility sits on 1.14 acres in South Tempe off of Kyrene Rd. between Warner and Ray roads and is close to Interstate 10.

Prologis

Prologis Buys 106,000 SF Facility; Plans Additional 221,000 SF Spec Building

Prologis, one of the most prolific buyers of industrial properties in the Valley, purchased the former Plastican plastic injection molding facility for $6.2M.

The seller was Phoenix Plastican Properties, LLC of Leominster, Mass.

The 106,000 SF property is situated on 21.5 acres and is located at 4101 W. Buckeye Rd. Plans on the excess 15.9 acres call for the construction of 221,00 cross dock industrial building which will be located at the SWC of 43rd Ave. and Buckeye Rd. The speculative building will have 62 dock high doors, 32’ clear height and 82 trailer stalls.

Lee & Associates principals Matt Hobaica and Nate Bubeck represented both the buyer and seller in this transaction.

“This property offers Prologis an excellent opportunity to build a state-of- the-art building at a time when the Phoenix industrial market is showing strong momentum,”  Hobaica said.

The 106,000 SF manufacturing building was constructed in 1993 and is situated on 5 acres with a fenced yard. The building offers rail service, 12 dock high doors and 24’ clear height will be reconditioned and offered for sale or lease.

For more information on Prologis, visit their website at www.prologis.com.