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.

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In addition to celebrating 20 years of leadership excellence in commercial real estate in the Phoenix market, Lee & Associates is one of the largest national commercial real estate providers with regional expertise. Lee & Associates currently has more than 40 offices located throughout the nation. Clients of Lee & Associates Arizona enjoy a comprehensive range of specialized commercial real estate services including: industrial, office, retail property sales and leasing; real estate investment consulting, property acquisition and disposition; tenant representation and relocation, land assemblage.

The Phoenix office of Lee & Associates was established in 1991 as the first office to open outside of California. The Lee & Associates model – empowering agents as owners of the company – attracts industry-best real estate agents and has fueled the Phoenix office’s growth from 12 brokers in 1991 to nearly 40 brokers today. 

Contact:

3200 East Camelback Road, Suite 100
Phoenix, Arizona 85018

Phone: 602-956-7777
Fax: 602-954-0510

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