Commercial Transactions

Sat, 02/12/2011 - 00:00 -- Jeff

Phoenix - Investor John Habberstad of Spokane, Wash. paid just over $1.9 million ($110 per foot) to acquire a 17,355-square-foot industrial building located at 2214 W. Parkside Lane in Phoenix. The seller was a venture formed by Dave Sellers of LGE Corp. in Phoenix and Randy Stolworthy of RRS & Co. in Phoenix. The sale was negotiated by Bob Lundstedt and Darren Tappen of Colliers Classic in Scottsdale, and Mitch Stravitz, Bruce Campbell, Louis Finocchiaro and Lee Noble of CB Richard Ellis in Phoenix. The vacant building is available for lease. Stravitz and his team at CBRE have the leasing assignment. Habberstad is looking for a single tenant. The rental rate is 88 cents per foot (triple net).