Bakala Investment Properties LLC of Phoenix, picked up the 2526 E. Southern Ave. property, located in the Southern Gardens Industrial Park, in a deal with First Source Financial of Illinois, which was divesting of its last Arizona holding. Andy Markham, with Grubb & Ellis/BRE Commercial LLC tells GlobeSt.com that the new owner, who re-listed the building shortly after its purchase, is hoping a strong market for owner-occupied properties will help turn a profit.
"An investor saw it as a pretty good deal," says Markham, who along with Marc Tuite and Mike Haenel, also with Grubb & Ellis/BRE Commercial, represented the seller in the transaction. The new owner was self-represented. Built in 1997 with block construction, the structure was built specifically for Mosaic Printed Circuits, which occupied the property until about a year ago.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
