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Menlo Group Facilitates Sale of Phoenix Industrial Property for $2.75M

Gray building with palm tree and a blue sky with white clouds
Gray building with palm tree and a blue sky and white clouds

Menlo Group represented the sellers of a Phoenix industrial property located at 4840 S. 35th St.

Tempe, AZ, November 28, 2023–Menlo Group Commercial Real Estate is pleased to announce the successful sale of a prime Phoenix industrial property located at 4840 S. 35th St. The property, boasting 10,719 sq. ft. of high-quality industrial space, sold for $2.75 million.

The transaction involved seamless collaboration between the seller, Daniel Dubei, and the buyer, Dogwood Dr LLC. Tom Ellixson, CCIM, of Menlo Group represented the seller, and Sue E. Muth of Decor Properties served as the buyer’s broker.

“This was my first experience selling commercial property. It went smoother than I could’ve ever imagined, and I couldn’t be happier with the end result,” Dubei said. “I was extremely impressed with how we were able to get top dollar and be in escrow three weeks after we listed the property and moved out two months later.”

Strategically situated near the I-10 freeway and Phoenix Sky Harbor International Airport, the freestanding industrial building is equipped with high-end finishes and a secured yard, making it an ideal asset for various business operations. Dubei purchased the property in 2021 and operated his kitchen and bathroom remodeling company, Diamond Granite and Remodeling, out of the space.

“We are thrilled to see this outstanding industrial property sell just a couple months after hitting the market,” Ellixson said. “The location’s proximity to major transportation hubs and its premium features make it a valuable investment for the new owners.”

The sale underscores Phoenix’s continued status as one of the top industrial real estate markets in the U.S. The metropolitan area has seen high demand for warehouse space, and that trend is expected to continue over the next few years.

About Menlo Group Commercial Real Estate

Menlo Group is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services, real estate consulting, property management and project management. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. To learn more about our industrial real estate services and contact our team, visit www.menlocre.com/industrial-flex.

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