The property, located at 3045 N. Colorado St., was a multi-tenant structure with an additional tenant when ERS signed a lease for 10,000 sf during August 2004. The company had a year to exercise that option.
"When one of the other tenants vacated, Emergency Response decided to exercise its option to purchase the building," says Andy Markham, vice president of Phoenix-based Grubb & Ellis/BRE Commercial LLC. Markham and Mike Hanel represented the seller, the Tree Trust of Phoenix while Leroy Breinholt with Commercial Properties Inc. of Tempe brokered for the tenant buyer.
Markham tells GlobeSt.com that little renovation has been needed on the structure. "They're modifying the property into one that will support a single tenant rather than multi-tenant," he adds.
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