PHOENIX-An old bakery situated within three miles of Sky Harbor International Airport has changed hands in a $1.2-million deal that gave the buyer a vacant 49,943-sf industrial building right next door to another of its land holdings.

Phoenix Adobe Partners, a subsidiary of the investment group Harrison Properties, picked up the single-story warehouse building at 1502 E. Buckeye Rd. from seller Sky Harbor Investors about 15 months after the property’s last tenant moved out, Steve Mardian with Grubb & Ellis/BRE Commercial, tells

Mardian says the buyer was interested in acquiring the building because of its location adjacent to another parcel of land it currently owns. “It was bought as an investment,” he says of the former Fry’s bakery, located near 16th Street and Buckeye Road. Mardian, who represented the buyer in the warehouse sale, says the new owner has not yet decided whether to keep the building and eventually lease it or tear it down. Sky Harbor Investors was represented in the sale by Rob Stephens with Cushman & Wakefield of Arizona Inc.’s Phoenix office.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.