The Cal-Eaton Industrial Park at the SEC of Smith Rd. & E. 5th St. in Tempe, sold for $8,950,000 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 SF and consists of 76 oﬃ ce/ warehouse bays and 15 small oﬃce suites.
The property is located just West of the Loop 101 and just South of Tempe Marketplace.