"Advanced Foam needed closer to 15,000 sf and this buildingoffered the size they needed and room for future growth," says KenMcQueen, a vice president with Trammell Crow Co.'s Phoenix office."And, they get the lease income from Alpha Systems in themeantime."
McQueen tells GlobeSt.com that Advanced Foam, which manufacturespackaging materials, purchased the building at 1773 W. First St. aspart of a reverse 1031 Exchange. Its 10,300-sf existingheadquarters and production site is located at 4629 S. 33rd St.
According to McQueen, Alpha Systems, a building and roofingmaterials distributor, didn't need so much space. "They were goingto sell the building and relocate," he says. "Instead, they wereable to downsize. It's a perfect fit for both (parties)."
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