"Chips Unlimited will continue to be a tenant in the buildingand will use it as an investment," says Cal Johnson, a vicepresident with Commercial Properties Inc. in Pnoenix. Situated on2.5 acres at 525 S. McClintock Ave. within Marquis Business Park,the building is more than 90% occupied by local tenants onmedium-term leases, he says.
Johnson tells GlobeSt.com that the building previously waslisted with other brokers, sitting on the market for two years dueto a high vacancy. He picked up the listing, leased up the buildingand sold it after six months on the market. Chips Unlimited was oneof three offers for the 1970s-era building, he says.
Johnson represented the seller, McClintock Properties LLC ofPhoenix. Ched Eckert of GVA DAUM's Phoenix office bargained termsfor the buyer.
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