3535 E Wier Ave Industrial, Phoenix
30,000 square foot multi-tenant industrial office warehouse held from 2011 to 2014 for a 20% profit on resale, plus 10% cash on cash return during the hold.
SteepleRock purchased held and re-sold this 30,000 square foot multi tenant industrial building.
A new steel roof coping was added to cure water penetration in the masonry walls. Exterior lighting was converted to LED. Tenants with expiring leases were all renewed.
Purchase price was $1,550,000 in 2011, with a sale in 2014 for $1,850,000.
The purchase was a commercial short sale; seller financing was provided by the lender/seller.