Thursday, April 26, 2012

Sales- Buyers of industrial property are out shopping.

Due to interest rates and prices being low for industrial space and with retail property, this has enticed some tenants to become owners. For this reason, sales interest in Q1 of 2012 was primarily from owner/user purchases as opposed to investor purchases of commercial buildings for sale. Sales transactions for the quarter included Merl Jessop's purchase of 40,000sf at 1201 Industrial for $1,400,000 ($35.00/sf), Ellaville Properties purchase of 31,908sf on 6.56 acres at 543 Overmyer for $2,600,000 ($81.48/sf), Fundis Trucking's purchase of 14,000sf on 9.8 acres at 2920 Walthem Way for $2,200,000 ($157.14/sf), Fog City Investments' purchase of 11,240sf at 903 E. 4th Street for $876,720 ($78.00/sf) and Rice Lakes Scales purchase of 5,000sf at 310 Freemont Street for $340,000 ($68.00/sf).

 Contact NAI Alliance at 775.336.4600 for all your commercial lease needs.

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