Glendales Generous Building Sale Price Raises Eyebrows
When a design showroom and manufacturer of outdoor furniture bought a building in downtown Glendale, more than a few eyebrows were raised. But it wasn’t the nature of the business, it was the price paid for the building.
Jen Fifield of the Arizona Republic recently reported the space went for just $25,000. Given that Glendale paid $735,000 for the building 10 years ago, some people are wondering if this was a sweetheart deal, people like Jon Riches, director of national litigation for the Goldwater Institute.
But Glendale City Manager Kevin Phelps said the sale was organic, legal and will be profitable in the long term. He said Glendale also laid out a series of promises the new owners must keep. The Show talked with Phelps about the guidelines.