Phoenix, AZ – Lee & Associates is pleased to announce the sale of 3065 South 43rd Avenue in Phoenix, Arizona. The industrial warehouse is a single story, 60,971-square-foot building on an 11 acre lot. Home to US Pipe, a division of Forterra, the location is one of thirteen across the country and is one of two that contains a special furnace used in their process. The property sold for $3,719,213 ($61.00 PSF) and was fully leased out.
Pete Batschelet, SIOR and Allen Lowe, SIOR, represented the buyer, 3065 43rd Avenue LLC (Hanson Capital), as well as the seller, Lippert Components Inc.
Hanson Capital is an alternative lender specializing in collateral, hard-money transactions within the real estate market. The company was started in 2008 by Chris Hanson in Phoenix, Arizona. Since opening Hanson Capital is responsible for over $300M transactions and is quickly becoming the leader for alternative lending.
Established over 100 years ago, U.S. Pipe is the largest producer of ductile iron pipes, fittings and joint restraints used in drinking water and wastewater systems. They have been in their Phoenix location for 10 years and will continue to stay under the new owner. With the multitude of products offered, they continue to lead the industry through dependable and economical solutions.