The White Family Trust of Phoenix is the buyer of record and owner of the event production business, which provides staging equipment such as platforms and tents for concerts, golf tournaments, auto actions and car races. Recent events include the Michael Douglas Celebrity Golf Tournament in California and the Phoenix Tennis Open. Independent broker David L. Farrell represented the White Family.
Michael Parker and Tom Knaub, both of the Phoenix office of Colliers International, represented the seller. Knaub tells GlobeSt.com that the transaction marks the second sale in the seller-developer's four-building Arizona Corporate Park North. In March, Arizona Nutritional Supplements paid just under $1 million in the first closing for the quartet since it delivered in November 2001.
All buildings are similar in size. The White House's new address is designed with a 12.5% office finish, he says. The buildings are listed at $69 per sf and are selling very close to that. Knaub says the sale to the White Family was completed in less than 45 days, partly due to the buyer's pre-qualified SBA loan.
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