Lee & Associates brokers negotiated the sale of an oﬀ market, 28,241 SF industrial building at 7434 E. Monte Cristo Avenue, Scottsdale for $4,400,000. Price per square foot was calculated at $155.80 per SF. Mark Linsalata and Nate Bubeck, Principals with Lee & Associates, were the brokers on this transaction. Western Properties, Inc., Seattle, Washington was the buyer and the seller was Carlson Investment, LLC, Scottsdale, Arizona.
Last month, the team worked with Western Properties on a 1031 Exchange for two commercial land deals totalling 54 acres in Buckeye for $4,000,000. The two-story industrial service building, built in 2001, features 12,708 SF of oﬃ ce space, 23’ clear height, three truck wells and four drive-in doors. The fully-leased property (which can be made available with a 90-day notice), sits on 1.70 acres near E. Paradise Lane and N. Dial Boulevard in the popular Scottsdale Airpark, one of the Valley’s top employment centers. The area is adjacent to many high-end retail amenities such as Scottsdale Promenade, Kierland Commons and Scottsdale Quarter. It is also close to the Loop 101, oﬀ ering quick transportation access to all parts of the Valley.