Tom Louer of CB Richard Ellis' Phoenix team negotiated the saleon behalf of Northeast Scottsdale Auto Group. Bob Broyles ofColliers International's Phoenix office handled talks forfather-son buyers, Robert F. and Robert L. Caldwell, both of SanFrancisco. The buyers recently closed a $15-million acquisition ofanother Phoenix industrial property.

Northeast Scottsdale Auto Group had the 16,5000-sf flex buildingconstructed at 8180 E. Raintree Dr. in 1996, positioning it in oneof the city's most popular landing spots for light manufacturingand distribution. The structure houses the firm's corporate officesand a service center. Houston-based L.J. Melody & Co.'s Phoenixoffice arranged the financing for the transaction.Insignia says thesale-leaseback will enable the long-term tenant to advance a retailexpansion in the Phoenix market. Northeast Scottsdale Auto Grouphas six retail locations in the Phoenix area and is looking atadding a couple more over the course of the next two years, Louersays. "It was a straight-forward sale-leaseback," Louer tellsGlobeSt.com.