Located at 23047 N. 15th Lane, the three-year-old building wassold by T Bar H's Desert Horizon Development. The buildingcontractor has leased back the building for five years from the newowner, James Carr, says Cory Spanko, an industrial propertyspecialist with Wiley & Associates Commercial Real Estate LLC,who represented T Bar.
"It was a full-price offer," Spanko says. In two weeks on themarket, the building received three offers. The building, situatedon a half-acre, is located within the Pinnacle Business Park near19th Avenue and Pinnacle Peak Road.
Spanko tells GlobeSt.com that T Bar sold the building as part ofa 1031 Exchange and is investing the proceeds in the development ofthree new buildings in the Valley. Carr, which paid cash for thebuilding, was represented by Jeffrey Clements of Phoenix.
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