Now called Elliott/I-10 Commerce Center, the holding is positioned at 7428 E. Harl Dr. CCT Investments bought the warehouse-distribution building for investment and trade purposes, brokers say. Insulpro Projects Inc. leases about 43% or 20,000 sf of the structure. The tenant is an insulation contractor with offices in Arizona, California, Nevada, Oregon and Washington.
Pete Wentis, Kevin Cosca and Michele Morrison, all of the Phoenix office of CB Richard Ellis Inc., represented the seller in the transaction. George Myers of MC Capital/Myers Arizona Real Estate dickered for the buyer.
Cosca tells GlobeSt.com that Arizona Tile wanted to sell the building as a vacant property, but decided to lease it after a year into the marketing. Cosca says the holding attracted about a half dozen bidders.
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