Broker Michael Milic with Colliers International tells GlobeSt.com that David & Karen Breedlove of Phoenix purchased the property for $500,000 from CPB Investments LLC of Paradise Valley to give their lighting company, Total Lighting and Control, more space for expansion.
The firm, formerly located in the same airport industrial area, will add more than 8,000 sf of warehouse and office space under the transaction. "It worked out fine for my client's use and budget," said Milic of the 1998 vintage property which had been vacant for almost a year. "At $40 per sf in the airport area, it was a pretty good deal for that kind of building."
Milic negotiated the deal for the buyer. The seller was represented in the transaction by Mike Ellison with Coldwell Banker Commercial's Phoenix office.
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