Independent Newsmedia
An entity tracing to James Philip Henry Lee acquired on July 26 the office property at 1555 N. Fiesta Blvd., Gilbert, for $10.58 million from an entity tracing to MAPFRE Insurance, according to commercial real estate site vizzda.com.
Lee paid $2.63 million down and $7.95 million in new debt with MidFirst Bank. The loan has a maturity date of July 18, 2033, according to vizzda.com.
It is 58,194 square feet of office space in a two-story, multitenant building, built in 1999 and renovated in 2022 on 9.06 acres zoned light industrial.
The first floor is 29,218 square feet and the second floor 28,976 square feet. It has one elevator, 15% floor area ratio, 300 parking spaces with 186 covered.
It is fire sprinklered and has a backup generator and fiber optic cable to building.
