PHOENIX—Lee & Associates announces the saleof the two-building Superstition Springs Business Park at 7307 and7427 E. Hampton Ave. in Mesa for $14 million. Total square footagefor the project was 101,411.

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Lee & Associates Arizona brokers facilitated both sides ofthe deal. The seller, Hampton/Mesa,LLC was represented by principals PatDempsey, Jan Fincham, ChrisMcClurg and Matt Fredrick. The buyer,Allred Hampton DE, LLC of San Diego wasrepresented by principals Stein Koss andTom Louer.

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The two-building, single story flex industrial business parksold with an occupancy of 91.5%. The buildings were constructed in1999 and in 2007. The buildings feature clear heights of 18-28-feet, fiber optics and 8:1,000 parking ratio. Major tenantsinclude GC Services and Norwegian Cruise Lines.

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Dempsey tells GlobeSt.com, “The submarket is arebounding, vibrant submarket. The leasing team did a new lease forNorwegian Cruise Line and relocated them across the street to thesubject property, which really allowed for the deal to takeplace.”

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Dempsey says the new owner found the cap rate of 8.5 attractiveand the rate and terms worked in the deal as well.

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“The fundamentals are all improving and that made this dealpossible,” says Dempsey.

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The property is just north of the Superstition SpringsMall and alongside the U.S. 60 (Superstition Freeway).

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