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Papago Industrial Sale

Massachusetts Development Company Purchases in Southwest Phoenix
By Dave Blake
December 20, 2002 | 5:53 P.M.

The Big O Tires Distribution Center at 301 N. 45th Ave. in the Papago Industrial Park closed escrow recently. Sidehill Phoenix LLC, an entity of Massachusetts-based Bayfield Development, purchased the 76,950-sqaure-foot building. The property, which is 100 percent leased by Big O Tires through mid-2009, sold for $3.2 million, roughly $41.50 per square foot, at an 8.28 percent cap rate. Sold by Phoenix Turney Partners LLC, an entity of Harrison Development, the building features 28-foot clear height and heavy power. Don MacWilliam and Payson MacWilliam of Insignia/ESG represented both sides.

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