Former Ashley Furniture Warehouse Sells for $3.95M to RacePro Products

Press Release ( - PHOENIX - Mar 21, 2017 - A 140,651 SF former Ashley Furniture distribution building at 2929 NW Grand Ave., Phoenix, has recently sold to RacePRO Products for $3,950,000. Price per SF was calculated at $28.08.

Lee & Associates Arizona Principals Rick Robertson and Scott Smith negotiated the transaction on behalf of the seller, Southwestern Furniture of Wisconsin, LLC, Arcadia, WI. Alexy Zaboltolskikh and Craig Yocum of Lee & Associates Riverside, CA, represented the buyer, RacePROProducts, San Bernadino, CA.

RacePRO Products had leased the building in August 2016 with an option to purchase. Ashley Furniture moved from the Grand Ave. warehouse in 2016 to a larger location near 35th Ave. & West Van Buren St., Phoenix.

San Bernadino, CA-based Race Pro Products offers a complete line of professionally formulated oils, lubricants, window wash, antifreeze, coolants and additives for maintenance and enhanced performance of motor vehicles, marine vessels and industrial machinery.

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About Us :

For over 25 years, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, retail, investment, multifamily, and land sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state. Each of our 57 North American Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

Source : Lee & Associates
Business Info :
Lee & Associates Arizona

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CATEGORIES : Real Estate
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