Rare Freeway-Frontage,
Development Site Sells for $14.9 Million

Oct. 11, 2005

PHOENIX, ARIZ. – Lincoln Property Company has purchased a nearly 34-acre site on the Southwest corner of Galveston Street and 54th Street in Chandler, with almost a quarter-mile of frontage along Interstate 10, in a transaction valued at $14.9 million. The seller, MTD Southwest, Inc., is a private manufacturing company based in Valley City, Ohio. The site has seven existing buildings totaling 240,900 square feet. The buildings range from a metal warehouse building to a quality offi ce and manufacturing buildings.
“This property gives the buyer the ability to re develop the site and create a park-like atmosphere with an easily accessible location on one of the last frontage locations along Interstate 10,” said Bob Buckley, Senior Vice President at Trammell Crow Company’s Phoenix office, who along
with Steve Lindley, Tracy Cartledge, James Harper, Ken McQueen and Andy Ogan brokered the deal for both buyer and seller. “The option to demolish some of the buildings to make room for additional development and rehab a few of the existing buildings will allow the buyer to reduce the land cost associated with the new development.” The site is located on Interstate 10 between Ray Road and Chandler Boulevard in Chandler.