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PHOENIX-A local firm has purchased a 15,058-sf multi-tenant industrial building for $1.39 million from a Sun River, OR trust. The property, listed for $1.47 million, is located near the metro center industrial area.

“The seller just wanted to get out of that market and move a little farther north into Deer Valley or Anthem,” Cory Spanko, a commercial investment agent with Wiley & Associates Commercial Real Estate, tells GlobeSt.com about the hand-off from the John J. Fedrizzi Trust to his bosses, Byron and Jan Wiley of Wiley & Associates Real Estate LLC. He adds the trust will soon be closing a deal in Anthem.

Spanko, who represented the trust, says the Wileys have moved their brokerage business into the building. “We’ve just occupied the remaining space,” Spanko tells GlobeSt.com, adding the property was 60% leased at the time of the closing.

The seven-year-old building requires no major renovations or improvements. “It was on the market for a couple of weeks and we received two offers on it,” Spanko says. “The price was fine for the seller and it ended up being a great deal for the buyer.”

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