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Case Studies

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HUB 317

317 South 48th Street

This 11 acre site was former Sam's Club that consisted of a 113,000 SF existing retail "box" The building had been vacated for a number of years when the team brought in a developer to repurpose the property.

With 24' clear height, A-1 zoning and freeway proximity, the building was capable of expansion. The team collaborated with the developer to expand the building by 112,000 SF for a total of 225,000 SF. The team was successful in bringing the property to 100% occupancy within one year of completing the expansion.

Size: 225,000 Square Feet


1401 East Hadley

This property consists of 30,280 SF situated on 3.16 acres. Built in 1992, the building had some minor deferred maintenance, but offered highly unique attributes with A-2 zoning, rail access and one acre of excess land.

Recognizing how these attributes could collectively push value, the team worked with ownership to identify the right buyer that could utilize and benefit from these features. This lead to a sale price of $140/SF in a market that was averaging $105-$110/SF.

Size: 30,280 Square Feet
Sale Price: $4,239,200 ($140/SF)
Client: Dunbar Real Estate

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235 East Pima Street Phoenix, Arizona

2019 Bird Dog Industrial purchased this vintage 1977 Front Load Industrial building. This building consists of 4 bays totaling 97,245 square feet and is zoned A-1 situated on 4.24 acres.


At the date of purchase, the facility was in need of a full makeover. Bird Dog Industrial delivered a new parking lot, new roof, skylights and fresh paint. They also remodeled the majority of the office space.


The three vacant bays are currently marketed and are in rent ready condition.


Good real estate in a great location repurposed by Bird Dog Industrial.  

Size: 97,245 Square Feet
Sale Price: $6,480,000 ($66.68/SF)
Cap Rate: 4.95%
Client: Bird Dog Industrial

11690 North 132nd Avenue Surprise, Arizona

This 167,291 square foot building was sold by the Lee & Associates Team on a 7-year sale/leaseback by Southwest Products. The Team identified a 1031 Exchange buyer and achieved near asking price from our seller client.

Size: 167,291 Square Feet
Sale Price: $15,035,000 ($89.87/SF)
Cap Rate: 7.5%
Client: Southwest Products Corp/Nordstrom Family

3341 - 3343 East Corona Phoenix, Arizona

The Lee & Associates Team sold this 2-building industrial asset to Dunbar Real Estate on a value-add opportunity. After renovating the property and stabilizing the tenancy, the Team sold the property with new 5-year terms to a local investor.

Size: 34,120 Square Feet (2 buildings)
Sale Price: $2,592,000 ($75.96/SF)
Cap Rate: 7.1%
Client: Dunbar Real Estate

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