The Gilbert-based firm paid $453,000 to Sun America Life Insurance Co. Floratech gains enough land to for a 40,000-sf office/warehouse building, Andy Markham, with Grubb & Ellis Co.'s industrial division, tells GlobeSt.com.
The 140-acre, master-planned corporate park, located north of Arizona Avenue and Warner Road in Chandler, is more than half sold out with only 65 acres remaining. "The action has been pretty good there," said Markham, noting that a second round of utility and street improvements, scheduled to begin in November, will mark the park's second phase.
"It's one of the premier parks in the southeast valley that caters to owner users," Markham said of the site, which offers improved lots ranging from under one acre up to 40 acres.The latest buyer, Floratech, will move its offices into the park from its 1151 N. Fiesta in Gilbert when the new building is completed.
Markham along with Mike Haenel and Marc Tuite, also with Grubb & Ellis' industrial team represented the seller during the transaction. Curtis Brown with Ross Brown Partners of Phoenix handled talks for the buyer.
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