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11/08/19
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Dixxon Flannel Co spent $4.5 mil on a 48k sf ($94/sf) retail warehouse/showroom property in Tempe, AZ. Dixxon, an apparel company, is relocating and expanding from a smaller property, also in Tempe.
The two-story property sits on 2.6 acres at 7200 S. Priest Drive. It features a large showroom along with 13.6k sf of office space. The first floor includes four office spaces, the showroom, a kitchen, shower, and two bathrooms. On the second floor, there are six office spaces, a storage area, and a conference room. Additional building features include 24’ clear height, four dock-high loading doors, and a full sprinkler system.
The previous owner, a furniture store, decided to sell the asset upon closing operations following 40 successful years in the greater Phoenix area, according to Ryan Reisman with DAUM Commercial Real Estate Services. Reisman, along with DAUM colleagues Chris Rogers, Trevor McKendry and Steve McKendry, represented the seller in the deal.
“This highly visible, rare property is ideally situated in an area with limited inventory that is experiencing high demand, which resulted in our Client receiving several competitive offers,” explains Reisman, who notes that according to a recent DAUM report, the greater Phoenix area achieved a record-high industrial sale volume at nearly $640 mil and per-square-foot price increase of 11.6% in Quarter 3.
He also points to the building’s prime location within one mile from Interstate 10 and near several other major thoroughfares, as well as its unique features and functionality, as additional components of its appeal.
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