Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TEMPE, AZ-A local investment group comprised of executives from Chips Unlimited Inc. has acquired a 40,000-sf industrial building for $2.9 million. The company, which makes latex chips for polyurethane industrial floor coatings, occupies 13,750 sf of the building.

“Chips Unlimited will continue to be a tenant in the building and will use it as an investment,” says Cal Johnson, a vice president with Commercial Properties Inc. in Pnoenix. Situated on 2.5 acres at 525 S. McClintock Ave. within Marquis Business Park, the building is more than 90% occupied by local tenants on medium-term leases, he says.

Johnson tells GlobeSt.com that the building previously was listed with other brokers, sitting on the market for two years due to a high vacancy. He picked up the listing, leased up the building and sold it after six months on the market. Chips Unlimited was one of three offers for the 1970s-era building, he says.

Johnson represented the seller, McClintock Properties LLC of Phoenix. Ched Eckert of GVA DAUM’s Phoenix office bargained terms for the buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.