The building, constructed in the 1970s, was sold by the Joseph Hayes Family LP. Mark Detmer, Bo Mills and Justin Carlson, all of the Phoenix office of the Trammell Crow Co., structured the deal for the seller. The family owned the building for more than 10 years.Mills tells GlobeSt.com that the building has been on the market for two years after it went dark in the exit of its printing company tenant.
The property took a long time to sell because it is a very specialized structure situated in an older industrial area of Phoenix, according to Mills. The property is fully air-conditioned and needed a certain type of buyer.
At the time that Padre & Hermano were vying for the building, Mills says a few other parties were also trying to buy it, but the clothier won out. The buyers will use the site for their clothing manufacturing business. Doug Davies with Phoenix's Commercial Properties represented the buyers.
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