Tempe Arizona Industrial Warehouse Trades For $3.1 Million in 1031 Exchange

TEMPE, Ariz. - July 25, 2017 - PRLog -- A 31,200 SF, multi-tenant industrial warehouse at 444 W. 21st St., Tempe, sold for $3,080,000 ($98.72 per SF). At the time of sale, the property was 100 percent occupied with three tenants.

Lee & Associates Arizona Principal Nate Bubeck facilitated the transaction between the buyer, James & Susan Morris Trust, Long Beach, CA, as part of a 1031 Exchange and the seller, VJ Properties, Inc., Scottsdale. Bob Kling, Principal with Lee & Associates Arizona also represented VJ Properties in the transaction. The property sold for $1.57 million in July 2014.

Built in 1985, the building features 16' clear height, heavy power, 6 drive-in doors, 1 exterior dock and 1 truckwell. The property, situated on 2.10 acres in the Broadway Industrial Park, is close to Arizona State University and in proximity to the I-10 Freeway and Phoenix Sky Harbor International Airport.

For more information:

NATE BUBECK | PRINCIPAL

602.954.3767; nbubeck@leearizona.com


About Us:

Now in our 26th year, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, retail, investment, multifamily, and land sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state. Each of our North American Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

http://www.lee-associates.com