TEMPE, AZ – A 38,225-square-feet, freestanding retail building at Emerald Design Center, 1725 West Ruby Dr., Building C in Tempe, has sold in an all-cash deal for $2.6 million ($68.02 PSF).
Lee & Associates principals Rick Robertson, Dave Johnson and Jerry Marrell negotiated the transaction for both the seller, Granco Enterprises of Tustin, CA and the buyer, Otium Real Estate Co. of Scottsdale, AZ. Otium is the owner/user entity of the current tenant, Salt Creek Home, a furniture store which has been leasing the building since 2010.
Built in 2006, the showroom/warehouse building is part of the 250,000 SF Emerald Design Center which features an eclectic mix of home furnishing retailers in the East Valley. The building features an evapcooled warehouse, 24’ clear height, 5 truckwells, 7 roll up doors and a 150-car parking lot. The center is located across from IKEA Furniture and offers an excellent, high-traffic location near the intersection of I-10 and Warner Road.
To learn more, Dave Johnson can be reached at 602.954.3745, Jerry Marrell is at 602.954.3744 and Rick Robertson should be contacted at 602.954.3748.