CH&K Holdings paid cash for the building, positioned at 2153 E. Jones Rd. on a 24,000-sf tract. The company, specializing in small package delivery, will use the location for its headquarters, says Rick Robertson, a founding partner of Lee & Associates Arizona. He represented the seller, Earl Northcutt of Phoenix while the buyer's terms were negotiated by Rich Sica of GVA Daum's local office.
The delivery service leases about the same amount of space at 2323 E. Magnolia Rd. "They liked the new building's proximity to the airport," Robertson tells GlobeSt.com, adding that CH&K Holdings was able to take full advantage of the building's specializedtenant improvements like a 3,000-sf cooler that will be converted into a storage locker.
For 17 years, Northcutt operated a Hickory Farms franchise from the building. "Every cheese ball and sausage in Phoenix came out of this building," he quips. Northcutt had occupied the building since it was built, but no longer needed it because Hickory Farms bought out his franchise, according to Robertson.
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