Demand for REO Assets Remains Steady as Lee & Associates Brokers Pair of Bank-Owned Industrial Property Sales in the East Valley
Phoenix, AZ – September 20, 2011 – (RealEstateRama) — Lee & Associates Arizona is pleased to announce the closing of two REO industrial property sales in the East Valley. The vacant 30,552-square foot warehouse building at 150 South Dobson Road in Mesa sold for $735,000, or $24 per square foot. Lee & Associates Principals Matt Hobaica, Chris McClurg and TJ Swearengin represented the seller, National Bank of Arizona. Pat Mahoney of Arizona Commercial Real Estate Services represented the buyer, Units, Inc. The warehouse was built in 1977 and has both grade-level and truck-well loading access.
