Roosevelt Tech Center, built in 1984, was a joint venture project of the Roosevelt Group and Henry and Sara Rose. Korth along with Trammell Crow's Barry Gabel represented the sellers while Tim Benson of Westmark Realty Partners handled talks for the buyers, a California partnership whose identity is being kept under wraps. According to Korth, the acquisition was strictly for investment purposes.
Korth says the Broadway Industrial Park building was originally designed for back office use. Roosevelt Tech Center has had many tenants and varied uses through the years. Today, the holding is 100% leased to Acme Electric, which manufactures manufacture industrial and aircraft batteries, Alltel Cos. and Precision Machine Shop.
Korth says Broadway Industrial Park was established by the railroad in the late 1960s. Today, it stands as one of the premier business parks in the Phoenix metropolitan area. "There is a shortage of land in the area," she says. Its great location makes it a sustainable hotspot. Korth says the area is a mix of office and industrial projects, which give the area "a lot of synergy.
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