CBRE NEGOTIATES INDUSTRIAL BUILDING SALE-LEASEBACK TRANSACTION
TEMPE, ARIZ. — Bill Bayless, Andrew Brigham and Don Mitchell of CB Richard Ellis (CBRE) represented San Diego-based Wax Properties Ltd. in the sale-leaseback of a 47,000-square-foot industrial building in Tempe. Redondo Beach, Calif.-based Santa Ana #164 acquired the property, which is located at 2810 S. Roosevelt St., for $4.65 million. The seller has signed a 16-month lease for Waxie Sanitary Supply, which is the property’s sole tenant. Tom Louer of Lee & Associates represented the buyer. Exact financial terms of the lease transaction were not disclosed.