Former Ashley Furniture warehouse sells for $3.95M to RacePRO Products

Former Ashley Furniture warehouse at 2929 NW Grand Ave. sells for $3.95M.(Submitted photo)

Rick Robertson

A former Ashley Furniture warehouse at 2929 NW Grand Ave. recently sold to RacePRO Products for $3,950,000.

 

Price per square foot was calculated at $28.08,

according to a press release. Lee & Associates Arizona Principals Rick Robertson and Scott Smith negotiated the transaction on behalf of the seller, Southwestern Furniture of Wisconsin, LLC, Arcadia, WI. Alexy Zaboltolskikh and Craig Yocum of Lee & Associates Riverside, Calif., represented the buyer,

Scott Smith

RacePRO Products, San Bernadino, Calif.

 

RacePRO Products leased the 140,651 square-foot distribution in August 2016 with an option to purchase the building in Phoenix. Ashley Furniture moved from the Grand Avenue warehouse in 2016 to a larger location near 35th Avenue and West Van Buren Street in Phoenix, the release said.

The release added that the San Bernadino, California-based Race Pro Products offers a complete line of professionally formulated oils, lubricants, window wash, antifreeze, coolants and additives for maintenance and enhanced performance of motor vehicles, marine vessels and industrial machinery.

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