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 $2.98 million or $65.66 per square foot. They will relocate their corporate headquarters from their current Mesa, Ariz. location.

Lee & Associates principals Rick Robertson and Scott Smith brokered the transaction on behalf of the seller, Jack Berg Family, LP of Santa Barbara, Calif. 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.

The building, built by Sun State in 1998, sits on 2.65 acres, has 6,800 square feet of office and 38,500 SF of evap-cooled warehouse space. It features 24’ 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.