TEMPE, AZ – The Cal-Eaton Industrial Park at the SEC of Smith Rd. & E. 5th St. in Tempe, sold for $8.95 million or $84.00 per SF. The transaction closed on June 30 and was 99% occupied at the time of sale.
Lee & Associates Principals Kurt Saulnier, Pat Dempsey and Jan Fincham represented the seller Cal-Eaton Properties, LP, based in Tempe. Cal-Eaton Properties originally developed the properties in 1984 and 1986 and has retained ownership for the past 32 years. The Lee team also secured the buyer, Fifth Street Commerce Center, LLC, of Portland, Oregon.
The 5 multi-tenant buildings total 106,950-square-feet and consists of 76 office/ warehouse bays and 15 small office suites. The property is located just West of the Loop 101 and just South of Tempe Marketplace.
For more information, Saulnier can be reached at 602.954.3740, Dempsey can be contacted 602.954.3772 and Fincham is at 602.954.3754.