Tempe Industrial Building Sells; Tesla Motors to Lease Facility

TEMPE, AZ – A 42,281-square-foot industrial building at 2077 E. University Dr., in Tempe has sold for $3.6 million ($85.14 PSF) and will house a service facility for Tesla Motors, the innovative maker of luxury, electric automobiles.

This is the second location for a Tesla service center in the Phoenix Valley. The other is located in the Scottsdale Airpark. In addition, there is a retail showroom at Scottsdale Fashion Square.

Lee & Associates Principals Dave Johnson and Jerry Marrell negotiated on behalf of Essex-Scot, LLC of Riverside, CA. Andy Markham with Cushman & Wakefield represented the buyer, Wentworth Property Co., LLC of Phoenix.

Essex-Scot, a window manufacturer, decided the facility was too small for its needs and is securing a larger facility to meet its present and future growth plans. Fifteen months ago, Essex purchased the property for $2.05 million.

The 1997-built, freestanding facility features two truckwells, 18’ clear height and heavy power. It is located near the Loop 101 east of Arizona State University and just minutes from Phoenix Sky Harbor International Airport.

For more information, Johnson can be reached at 602.954.3745 and Marrell is at 602.954.3744.