Earl Gibbons plans to use the building as a headquartersfacility for his company, Construction Inspection & TestingInc., which will relocate from 14,000 sf at 2131 W. 7th St."(Gibbons) needed space for long-term growth and wanted to buy abuilding so he could control the company's own space," says JeffConrad of Lee & Associates Arizona's Phoenix office. The deal'slone broker looked nearly six months before Gibbons decided to makea move for the Madison Drive property.

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

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.