"They've been looking for a central location and this fit," Mardian says of the 5017 E. Washington St. property, located off Interstate 10. Brothers and former ranchers Michael and Gary Smith developed the site, which once housed 40,000 heads of cattle on the surrounding 200 acres, into a 100,000-sf mixed-use property in 2003. The Smith brothers own the Jokake Cos., which located its headquarters on the 7.2 acres site.
Mardian says interest in the property has been strong, especially since it sits off one of the Valley's central transportation arteries. "We've had good activity," he says, noting that the property's 39,687-sf industrial building is currently more than 70% occupied.
Mardian, along with Eddy Moore, also with Grubb & Ellis|BRE Commercial, LLC's Industrial Group, handled the transaction for the seller, while Dave Heiple with locally based Heiple Tenant Advisors represented the buyer.
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