Window Maker Exercises Option on 131,000-SF Building

TEMPE, AZ-Paramount Windows has purchased the 131,000-sf building it’s leased for more than two years from Southern Avenue LLC, a Phoenix-based partnership, for $5.8 million.

According to Patrick Harlan, director of Phoenix-based Cushman & Wakefield of Arizona Inc., Paramount’s owner, from the start, had intended to purchase the property at 550 W. Southern Ave. “I think he was coming out of another lease at the time and wasn’t ready to buy, but he wanted to reserve the right to purchase the building when we structured the lease for him a couple of years ago,” Harlan tells GlobeSt.com.

Harlan, along with C&W Arizona’s Steve Sayre and Lindsay Erickson, represented Paramount Windows in the negotiations. Pat Feeney and Dan Calihan with CB Richard Ellis Inc. in Phoenix were on hand for the seller.