Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of a 62,413 SF industrial property located at 900 North Fiesta Blvd., in Gilbert Arizona. Jim Stockwell of CPI’s of Tempe Office represented Rhodes Family Trust in this transaction.
The reinforced concrete building was built in 1999 and is a single tenant building formerly owned by the Md 900 Fiesta Llc. The property is 100% leased to Air Transport Components, and located just North of Guadalupe Road and East of Arizona Avenue in Gilbert Tech Center.
Jim Stockwell commented, “Rhodes Family Trust purchased the property as part of a 1031 tax deferred deal. The attractive component for the buyer was the long-term NNN lease tenant, Air Transport Components, that came along with the transaction.”
The sale was valued at $6.85 million.