Harl Street LLC, formed by the owners of Arizona Envelope Co.,purchased the single-story industrial and office complex at 7248 S.Harl in a 90-day transaction for about $2.7 million, Steve Mardian,senior vice president with Grubb & Ellis Co.'s industrialdivision, tells GlobeSt.com.

"With the financial markets the way they are, they were able toget a cheap interest rate which allowed them to own rather thanlease," said Mardian, who negotiated the sale for the buyer. Theseller, CCT Investments LLC of Scottsdale was represented in thetransaction by George Myers with MC Capital.

The company, formerly located at 1520 W Mineral Rd. in the sameElliott Road-I-10 Industrial Park, will occupy about 27,000 sf. Theremaining space currently is leased to Infolder, a division ofMasco, a Michigan conglomerate, Mardian said. Arizona Envelope willexpand into that space once the lease expires, he added.