PHOENIX—In hopes of taking advantage of a recovering housingmarket, Tucson-based Holualoa Companies haspurchased three showroom/flex industrial buildings in Mesa.Colliers International in Greater Phoenix recentlycompleted the sale for $5.8 million, or $61.03 a square foot.

|

Holualoa purchased the buildings, located at the SuperstitionSprings Commerce Center, from AEW CapitalManagement of Boston. The buildings, encompassing 95,035square feet, were constructed in 2001.

|

Rob Martensen, vice president of Colliers, served as the brokerfor the buyer and seller.

|

Martensen tells GlobeSt.com, “Holualoa owned acompeting project across the street and there is not a lot of thistype of space available it this area. The users of this space arehousing-related: tile, carpet, door, cabinetry companies. Theseusers are beginning to turn back up after the crash.”

|

Martensen says there are very few similar projects withstorefront/industrial use in close proximity to the new Eastmarkhousing community and that Holualoa hopes to capitalize on therecovering industrial market, specifically in the residentialhousing construction arena.

|

“Superstition Springs Commerce Center can accommodatecontractors and suppliers of home-related products to supply thisgrowing area,” Martensen adds.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.