The offer by Aziz LLC was just $125,000 shy of the price asked by seller, Simridge Technologies, which listed the 45,276-sf, two-building property for $2.2 million about eight months ago, Mark Linsalata with Lee & Associates Arizona tells GlobeSt.com. "It's a good, long term location," he says, noting the 1817 E. Rio Salado Parkway site is situated across the street from a planned outdoor mall in an area that has been targeted by the city of Tempe for redevelopment.
"The bonus of this location," Linsalata adds, "is that it is strategically located to the Loop 101 and 202 freeways so you have quick access to both." The new owner, which plans to use the building as a warehouse for its importing and exporting firm, will take over the facility in May, replacing Simridge Tech, which ran a plastic molding facility at the site.
Linsalata represented the buyer in the transaction. The seller was assisted by Rich Sica with Daum Commercial Real Estate Services in Phoenix.
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