Two Tempe Industrial Buildings Sell in $11.5 Million Investment Deal

TEMPE, Ariz. - Oct. 22, 2015 - PRLog -- Lee & Associates is pleased to announce the sale of two industrial buildings totalling 115,742 at 2114 W. 7th St. and 2105 W. 5th Place in Tempe, for $11,500,000 or $99.36 per SF. Both buildings are 100 percent occupied by Comtech EF Data a credit tenant with a long-term leases in place.

Lee & Associates principals represented both sides of the transaction. Dave Johnson and Jerry Marrell represented the seller, Phoenix Investors #7, Ltd. Partnership and The Gussie Kettler Trust. John Cerchiai and Fred Darche represented the buyer, Development Services of America, Inc. The company develops and manages highly specialized and diverse properties, including several state-of-the-art, Class A facilities.

The properties sit on 7.39 acres in the very desirable Tempe Northwest submarket, centrally located in the Valley with surrounded by major transportation corridors such as the Loop 202 Red Mountain Frwy., AZ 143 Hohokam Expy. and I-10 and directly east of Phoenix Sky Harbor International Airport.

The buildings, part of a six-building corporate campus, features a two-story, 74,280 SF headquarters/R&D building and a 28,294 SF
manufacturing facility that include 25’-28’ ceiling height, full air conditioning, heavy power, a new 20-year roof system, LED lighting, 400KVA diesel generator, energy management, nitrogen & DI water and electrical channel distribution.

Greenwood & McKenzie negotiated on behalf of the two ownership entities who had purchased the properties upon completion by SunState Builders in 1991 and 1995 respectively and managed the asset for 24 years and proceeds from this sale will be invested in multiple Arizona properties.

For more information:

Dave Johnson, 602.954.3745, djohnson@leearizona.com
Jerry Marrell, 602.954.3744, jmarrell@leearizona.com
John Cerchiai, 602.954.3763, jcerchiai@leearizona.com
Fred Darche, 602.954.3756, fdarche@leearizona.com

About Us:

Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, land and investment 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 nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.