59,375 SF Manufacturing Building Sells for $2.4M
TEMPE, AZ – A Tempe manufacturing building at 1531 W. 17th St. in Tempe, sold for $2.4 million. The 59,275-square-feet facility brought a price square foot of $40.42.
Lee & Associates principals, Matt Hobaica and Matt McDougall represented the seller, JCS, LLC of Tempe. The facility was the former home of All Pro Industrial, LLC. Paul Timm of Trust Realty Advisors represented the buyer, Lexkel, Inc. of Mesa, AZ.
The 1981-built building sits on 3 acres and features heavy power, a fenced yard, natural gas, A/C and Evaporative production areas and four grade level loading doors. It is located just east of the Interstate 10 and Broadway Rd.curve and is close to Phoenix Sky Harbor International Airport.
To learn more Hobaica should be contacted at 602.954.3755 and McDougall is at 602.474.9561.
18,730 SF Manufacturing Facility Trades for $2.15M
TEMPE, AZ – An 18,730 SF freestanding manufacturing facility at 609 W. Knox Rd. in Tempe, sold for $2.15M or $114.79 per SF. The sale closed on July 7th on an eleven day escrow.
Lee & Associates Arizona Principals represented both sides of the transaction. Stein Koss and Tom Louer represented the buyer, Broadway Genesis, LLC of Tustin, CA while Ken McQueen, Principal, represented the seller, Fleet Wing Holdings, LLC of Tempe.
The building was previously the headquarters for Spectrum Aerospace.
This transaction was a 1031 exchange for the buyer and represented an 8.15% cap rate on a seven year sale/leaseback.
Built in 2006, the 2-story, single tenant building features 4,000-square-feet of office and two drive-in doors. The facility sits on 1.14 acres in South Tempe off of Kyrene Rd. between Warner and Ray Rds. close to Interstate 10.
To learn more Koss can be contacted at 602.912.3520, Louer is at 602.954.3779 and McQueen can be reached at 602.474.9564.