Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-A vacant Home Depot finds a buyer for the 99,510-sf building and 9.2 acres at 4240 W. Camelback Rd. in Phoenix. Turning over a $1.6-million check is buyer of record, Verma Camelback 43rd Avenue LLC of Phoenix.

Atlanta-based Home Depot Inc. sold the building through David Leyvas of Phoenix’s Diversified Commercial Brokerage. Tom Semancik of the Phoenix office of Colliers International represented the buyer. The property became surplus real estate once Home Depot unlocked doors on a brand-new store right across the street.

Semancik tells GlobeSt.com that the holding was on the market about four months before it fell under contract. He says the buyer plans to lease and sell pad sites in the parking lot for fast-food restaurants and service stations with convenience-store components. And, of course, find a tenant to fill the big box space. Semancik is holding the leasing assignment for the property, which is carrying a $5 per sf triple net rate on the empty building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.