Hampton/Mesa LLC of Clinton Township, MI picked up the Superstition Springs Business Park from Voit Cos. of Woodland Hills, CA in a deal that will allow the new owner to build a flex office building on the open land, Mark Pierce with Lee & Associates Arizona tells GlobeSt.com. "The building is fairly new, the location near the Superstition Freeway is great and there was a good tenant mix,'' says Pierce, explaining the reason behind Hampton/Mesa's acquisition of 7307 E. Hampton Ave. in Mesa.
Pierce, who negotiated the transaction for the buyer, says several investors in the group have second homes in Fountain Hills and have been looking for property about two months. The buyers, who own other real estate investments in Michigan, were drawn to the property because of the area's rapid growth and the building's upside potential, additional land and a tenant base that includes Wal-Mart, according to Pierce. Pete Wentis, Kevin Cosca, Joe Porter, Pat Feeney and Dan Calihan, all in CB Richard Ellis Inc.'s Phoenix office, teamed to represent the seller in the negotiations.
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