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PHOENIX-Omaha Paper Stock, a paper recycling company, has traded its status as a tenant for that of ownership with the purchase of a 78,171-sf industrial building from a Santa Ana, CA investor for $1.93 million.

The multi-tenant building at 4645 W. Van Buren St. houses three additional tenants. The Omaha-based recycler has taken over about 25,000 sf of the building.

“Omaha needed to expand its operations here,” explains Skip Corley Jr., executive vice president with GVA Daum’s Phoenix office, “and I think their desire was to own something.” He tells GlobeSt.com that when the company first came to Phoenix about three years ago, “they decided to lease, to see where the market was going.”

The move represents an expansion from Omaha’s previous leased quarters of 14,000 sf at 34 N. 45th Ave. Furthermore, the property’s attraction was price and layout although little remodeling needed to be done, Corley says. “They probably looked at about half a dozen buildings, then decided on this one,” he notes, adding outdoor storage was also one of the dealmakers. Corley represented buyer and seller, James McDonald of Santa Ana.

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