A manufacturing building at 4501 W. Polk St. sells for $5.65M (Submitted photo)
Lee & Associates announce the recent sale of a 90,463 square-foot industrial manufacturing building for $5,65M.
Price, per square-foot, was calculated at $62.46. The property, located 4501 W. Polk St. in
Chris McClurg
Phoenix, was vacant at the time of sale, according to a press release. Constructed in 1986, the building sits on 3.58 acres.
Features include an active rail line, heavy power, 10 exterior dock doors and 30-foot clear height. The property is strategically located less than a half mile south of I-10, and just east of the future
Loop 202 freeway, currently under construction, the release said.
Principals Chris McClurg and Pete Batschelet secured the buyer, Scientex Phoenix, LLC, of Malaysia. Mark DiSabato, principal with Atlantis Commercial, represented the seller, Dominion Enterprises, Norfolk, Va.
“We were excited to be working with international clients making their first foray in to the Phoenix market. Scientex officials were very clear about what they wanted, which made the selection process a positive experience from the start,” said Principal McClurg in a prepared statement.
Pete Batschelet
Scientex wants to start operations this year and will use the building for its plastics extrusion line, the release said. This is their first expansion in to the US market with intentions to create up to 60 local jobs by year-end.
Lee & Associates Arizona specializes in providing commercial brokerage services to the industrial, office, retail, investment, multifamily, and land sectors of the Phoenix commercial real estate market, the release noted.
For more information, call 602-954-3766 or 602-912-3522; go to cmcclurg@leearizona.com or pbatschelet@leearizona.com.