A 25,465-square-foot warehouse building at 3880 E. Broadway Rd. in Phoenix has sold to a California owner/investor group for $2.95 million, or $115.00 per square foot. The sale was completed on August 21.
The sale featured Lee & Associates principals on both sides of the transaction. Stein Koss and Tom Louer of the Phoenix office represented the seller, EERST Properties of Scottsdale. Nate Bubeck of the Phoenix office and Tom Gilmer of Lee’s Orange, CA office represented the buyer, William T. White III Revocable Trust of Costa Mesa, CA.
The fully-occupied, one-story building is currently leased to Border Construction Specialties, LLC. The building sits on a 2.3 acre parcel and is located just south of Phoenix Sky Harbor International Airport and Interstate 10.