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Fluegel's Not Frugal

$1.325 Million Industrial Sale
By Diana Sharkey
May 20, 2002 | 5:48 P.M.

D.F. Sauer Properties LLC, a company formed by Educational Sales Company, purchased the multi-tenant industrial building located at 1401 South Siesta Lane in Tempe, AZ. The 25,570-square-foot property was sold for $1.325 million, more than $51.80 per square foot. The building was 100% occupied at the time of sale by the seller and one other tenant. The seller will leaseback the 12,785-square-foot space for one year, at which time the buyer will then move into that half of the building. The space will then be used for the distribution of books and educational products. The other tenant will continue to occupy its 12,785-square-foot suite through the duration of its lease. Mark Wilcke of NAI Horizon represented both the buyer and the seller, The Fluegel Family Revocable Trust, in the transaction.

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