Verde Investments, Inc. sold the DriveTime building at 333 S. Alma School Rd. in Mesa, AZ to Paolone Holdings LLC for $6.5 million, or about $1,103 per square foot.
The 5,891-square-foot, freestanding retail building was constructed in 1994 on 3.5 acres in Maricopa County. DriveTime Car Sales occupies the entire building under a brand-new, 15-year lease extension.
Pat Luther and Travis Fidel with SRS NNN and Ed Beeh with SRS Real Estate Partners represented the seller. Taylor Wood with Cresa Orange County represented the buyer.