Hensley & Co., which distributes Anheuser-Busch products, bought the land from SunAmerica Life Insurance Co. of Los Angeles. The 35-acre sale ended a three-year sell-off of the park's land, says Andy Markham, with Grubb & Ellis/BRE Commercial, LLC's industrial services group in Phoenix. Markham says Hensley plans to begin construction on a 300,000-sf headquarters and distribution facility by midyear. Completion is set for 2006. The firm's headquarters currently is housed at Broadway Business Park in Tempe.
The company selected the site not only because of the reasonable land costs, but also because of the center's office park atmosphere and ability to bring rail service to the property, Markham says. The positioning near Loops 101 and 202 and Interstate 60 also was a factor, he says.
In addition to Markham, the seller was represented by Mike Haenel and Marc Tuite, both with Grubb & Ellis/BRE Commercial in Phoenix. Tom Johnston with Cushman and Wakefield of Arizona Inc. negotiated the buy side.
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