PHOENIX-Lee & Associates has brokered thesale of an industrial commercial real estate asset in the localmarket. The 127,680-square-foot building, which is 50% leased, soldfor $6.8 million, and is tenanted by Blue Line FoodserviceDistribution.
Stein Koss, a principal of Lee,represented the buyer, Ivy Trust, which is basedin Mountain View, CA. The seller, High Time LLC,is local and represented by Bo Mills,Jackie Orcutt and Mark Detmer ofCushman & Wakefield.
The building is at 420 S. 53rd Ave., in a complex calledFreeport Center. Ivy is willing to give a newtenant a "below-market lease rate," according to Koss.
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