The Wakimoto Family, a San Francisco-based family trust, purchased the industrial building at 1800 E. Palo Verde in Yuma for $3.42 million. Sam's Club, a discount food and goods retailer, has a long-term lease on the building.
Alex Brown Realty Inc., a Baltimore-based real estate investment firm, had owned the property for three years prior to the sell.
Yuma is in the very southwestern corner of the state, just miles from the California border. The city has more than 75,000 full-time residents and is home to a large migrant retiree population during the winter.
The Phoenix office of Marcus & Millichap, with broker Sanford Burstyn, represented the buyer in the transaction, and the Tucson office of J.L. Beem, with brokers Jeff Beem and Frank Parsley, represented the seller.
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