TEMPE, AZ-A local businessman has acquired a 33,080-sf flex building at 618 S. Madison Dr. for $1.7 million from Orange, CA-based H&H Property.

Earl Gibbons plans to use the building as a headquarters facility for his company, Construction Inspection & Testing Inc., which will relocate from 14,000 sf at 2131 W. 7th St. “(Gibbons) needed space for long-term growth and wanted to buy a building so he could control the company’s own space,” says Jeff Conrad of Lee & Associates Arizona’s Phoenix office. The deal’s lone broker looked nearly six months before Gibbons decided to make a move for the Madison Drive property.

Conrad tells GlobeSt.com that the two-story building, built in the mid-1980s, had been vacant for 18 months or more. “H&H Property was willing to lease or sell the building,” he says. H&H Property had owned the building since the late 1980s, he notes. Construction Inspection & Testing is an environmental consulting firm with nearly 100 employees.

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