Leased/Sold

Comments: The Koss | Louer Team of Lee & Associates Arizona has successfully negotiated two leases resulting in an increased occupancy of Parc 17. The 177,770-square-foot industrial project went from 24 percent occupied to 75 percent occupied in just seven months after close of escrow. In April 2017, Principals Stein Koss and Tom Louer sold Parc 17 to Colony NorthStar, Inc. (NYSE:CLNS), a leading global real estate and investment management firm, for $16 million. Colony projected that the property would be 60 percent leased after one year. In September, Koss and Louer leased 52,845 square feet to Peterson Aluminum, and in early November, Polyloom leased 31,871 square feet. These leases put the team 15 percent above their target goal.

Date: May 01, 2017

Comments: The Koss | Louer team of Lee & Associates Arizona arranged the sale of a 95,836-square-foot industrial portfolio. Luke Marley, LLC., a California-based partnership owning retail product in California, purchased the portfolio from Delcor, LLC. for $12.45 million. Principals Stein Koss and Tom Louer represented both the seller and the buyer in the transaction. The portfolio is fully leased for five years to Horizon Distributors, Inc., a wholly subsidy of POOLCORP. The portfolio is comprised of the following freestanding buildings: • 8746 W. Kelton Lane, Peoria -8,750 SF on 1.25 acres • 15517 N. 77th St., Scottsdale -8,750 SF on 1.26 acres • 4055 W. Saturn Way, Chandler -5,300 SF on .86 acres • 201 W. Juanita, Mesa -9,924 SF on 1.97 acres • 5214 S. 30th St., Phoenix -42,138 SF on 5.10 acres • 41802 N. Vision Way, Anthem -10,009 SF on 1.31 acres • 4740 N. La Cholla Blvd., Tucson -10,965 SF on 1.2 acres

Date: Sep 14, 2017

Comments: PRESS RELEASE For Immediate Release Photo: Attached California-based CapRock Partners has purchased a manufacturing facility in Phoenix’s highly sought-after Sky Harbor market for $8 million. The 110,710-square-foot building is the investment firm’s first Phoenix acquisition. The seller was Madison 225 LLC. of Scottsdale. Both companies were represented by Stein Koss and Tom Louer, principals of The Koss | Louer Team at Lee & Associates. The building sits on 5.8-acres that are just East of Phoenix Sky Harbor International Airport, and offers exposure along Loop 202 Red Mountain Freeway. It features 30’ clear height, 22 dock high loading doors and two(20-foot-wide) grade level doors. Plans are underway to transition the property to Class A space by significantly upgrading the interior and exterior. According to CapRock, the company will create new offices, an expansive window-line and glass storefront. Extensive improvements will enhance the efficiency and function of the facility, and appeal to tenants in today’s competitive industrial marketplace.

Date: Sep 17, 2017