Lee Associates brokered two Tempe properties recently for a total of $4.55 million.
59,375 SF Manufacturing Building Sells for $2.4M
A Tempe manufacturing building at 1531 W. 17th St. in Tempe, sold for $2.4 million.
The 59,275 square-foot facility fetched $40.42 per square foot.
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 the Broadway Road curve and with convenience to Phoenix Sky Harbor International Airport.
For more information, contact Matt Hobaica, 602-954-3755, firstname.lastname@example.org; or Matt McDougall, 602-474-9561, email@example.com.
18,730 SF Manufacturing Facility Trades for $2.15M
An 18,730 square-foot freestanding manufacturing facility at 609 W. Knox Road d. in Tempe, sold for $2.15 million or $114.79 per square foot an 11-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 previously was headquarters for Spectrum Aerospace.
The transaction was a 1031 exchange for the buyer and represented an 8.15 percent cap rate on a seven-year sale-leaseback.
Built in 2006, the two-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 Kyrene Road, between Warner and Ray roads and is close to Interstate 10.
For more information, contact Stein Koss, 602-912-3520, firstname.lastname@example.org; Tom Louer, 602-954-3779, email@example.com; or Ken McQueen, 602.474.9564, firstname.lastname@example.org.