Tag Archives: rick robertson

Salt Creek Furniture, Lee Associates, WEB

Emerald Design Center building sells for $2.6M

A 38,225 SF, freestanding retail building at Emerald Design Center, 1725 West Ruby Dr., Building C in Tempe, has sold in an all-cash deal for $2.6M or $68.02 per SF.

Lee & Associates principals Rick Robertson, Dave Johnson and Jerry Marrell negotiated the transaction for both the seller, Granco Enterprises of Tustin, CA and the buyer, Otium Real Estate Co. of Scottsdale, AZ. Otium is the owner/user entity of the current tenant, Salt Creek Home, a furniture store which has been leasing the building since 2010.

Built in 2006, the showroom/warehouse building is part of the 250,000 SF Emerald Design Center which features an eclectic mix of home furnishing retailers in the East Valley. The building features an evapcooled warehouse, 24-foot clear height, five truckwells, seven rollup doors and a 150-car parking lot.

8201 S. 48th St, WEB

Precision Installation buys 45KSF Phoenix warehouse

Precision Installation, Inc., a local commercial furniture and equipment installer, has purchased a 45,307 SF warehouse property at 8201 S. 48th St., Phoenix for $2.98M or $65.66 per SF. They will relocate their corporate headquarters from their current Mesa, Arizona location.

Rick Robertson, Lee & Associates

Rick Robertson, Lee & Associates

 

Lee & Associates principals Rick Robertson and Scott Smith brokered the transaction on behalf of the seller, Jack Berg Family, LP of Santa Barbara, California. The buyer was represented by Clint and Blake Hardison of Keyser Corporation. The building was purchased using an SBA loan from Wells Fargo Bank.

 

“The transaction was a win-win opportunity for both buyer and seller and it offers the building a new lease on life after being vacant for over a year,” said Robertson.

Scott Smith, Lee & Associates

Scott Smith, Lee & Associates

The building, built by Sun State in 1998, sits on 2.65 acres, has 6,800 SF of office and 38,500 SF of evap-cooled warehouse space. It features 24-foot clear height with storage racking, five dock high doors and one grade level door. The property is located in the Pointe South Mountain Business Park and is close to I-10, US 60 and Phoenix Sky
Harbor International Airport.