LGE Design Build as contractor and architect expertly renovated the industrial property at 7741 N Business Park Drive in Marana before it was sold for $11.035 million ($235 PSF) in a net lease sale.
7741 Business Park Dr. was a full redevelopment of a former manufacturing facility (built 1982) to a state-of-the-art 47,000-square-foot office facility with modern architectural appeal. LGE Design Build's renovations included a complete interior gut and refinish, new roof, HVAC, new parking lot and covered patio in the rear. The interior includes sprawling open space for connectivity among employees, LED lighting throughout, and light colors to brighten the workspace. The building is located on 3.18 acres within the dense business district of Peppertree Ranch Business Park in Marana, Arizona.
LGE Design Build is one of only a few design build firms in the western U.S. with its own architects. Renovations began October 2015 and completed June 2016, taking eight months to complete the cutting edge tenant improvements.
Under the purchase agreement, Net Lease Capital Advisors of Nashua, New Hampshire acquired the fully net-leased GSA building from Marana Business Park Partners, LLC.
Eric Wichterman, Michael Coover and Shannon Kling with Cushman & Wakefield of Phoenix represented the selling entity, Marana Business Park Partners LLC, in the transaction.
Wichterman can be reached at 602.224.4471 x271, Coover should be contacted at 602.224.4473 and Kling can be called at 602.224.4476.
To learn more, see RED Comp #4158.