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TEMPE, AZ-Cracovia Capital LLC of Phoenix has purchased a 26,000-sf block building at 1876 E. Broadway in Tempe for $1.4 million.

Robert Kling of the Phoenix office of Lee & Associates Arizona tells GlobeSt.com that a local investor, whose name is not being released, leads Cracovia. Cracovia purchased the building out of bankruptcy court from Julian Enterprises.

Julian Enterprises bought the eight-year-old building several years ago while acquiring a high-end, glass-tabletop production company. Kling says the building owner ran into financial troubles as taxes fell delinquent, as did the building’s trio of mortgages. At some point, the business relocated. Cracovia was one of two bidders for the building, originally coming to market at nearly $1.8 million.

Dennis Campbell of Nobeus Management represented the seller. Kling brokered the deal for Cracovia, which will use the showroom and warehouse for its exotic used car business. A 6,000-sf block will be leased, he says.

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