Newmark Grubb Knight Frank completed the sale of an industrial building totaling 23,662 SF 4022 W. Lincoln St. in Phoenix for $1.85M.
Peter Batschelet, Managing Director with Newmark Knight Franks’ Phoenix office, represented both the buyer, Bee Line Transportation and the seller BB Property Management in the transaction.
Bee Line Transportation out of Tucson is expanding from 8,000 SF on one acre of land to the 23,662 SF building on 6 acres of land. Bee Line is a third party bus operator for public school systems and they lease coach buses for tourism and travel events.
The owner hopes to bring a portion of its Tucson operation north to Phoenix to take advantage of the changing market. Their current facility is in escrow already, also represented by Peter Batschelet.
Additionally, Batschelet helped the seller, BB Property Management relocate to another property in 4Q 2012.
