Cascades PNK LLC picked up the freestanding, 1.5-year-old property at 4950 E. Beverly Lane near South Mountain in a deal with seller KLS Southpointe LLC. Steve Sayre with Cushman & Wakefield of Arizona Inc. in Phoenix tells GlobeSt.com that the new owner will use the building for warehouse and showroom space when he moves his business from 5,000 sf at 2400 W. Southern Ave in Tempe, less than a mile away. "It offered ownership, expansion and a brand-new building to bring their clients to," Sayre says of the motivation to buy.
The property is one of six buildings in the 75,894 sf Southpointe Business Center and the last to be sold. Sayre and C&W's Pat Harlan negotiated the purchase on behalf of the buyer. The seller was assisted by Steve Farrell and Alan Lowe, both with Lee & Associates Arizona's Phoenix office.
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