Tempe Industrial Building Sells; Tesla Motors to Lease Facility

TEMPE, Ariz. - Nov. 23, 2015 - PRLog -- A 42,281 SF industrial building at 2077 E. University Dr., in Tempe has sold for $3,600,000 ($85.14 per SF) and will house a service facility for Tesla Motors, the innovative maker of luxury, electric automobiles.

This is the second location for a Tesla service center in the Valley. The other is located in the Scottsdale Airpark. In addition, there is a retail showroom at Scottsdale Fashion Square.

Lee & Associates Principals Dave Johnson and Jerry Marrell negotiated on behalf of Essex-Scot, LLC of Riverside, CA. Andy Markham with Cushman & Wakefield represented the buyer, Wentworth Property Co., LLC of Phoenix.

Essex-Scot, a window manufacturer, decided the facility was too small for its needs and is securing a larger facility to meet its present and future growth plans. Fifteen months ago, Essex purchased the property for $2,050,000.

The 1997-built, freestanding facility features two truckwells, 18’ clear height and heavy power. It is located near the Loop 101 east of Arizona State University and just minutes from Phoenix Sky Harbor International Airport.

For more information:

Dave Johnson, Principal
602.954.3745; djohnson@leearizona.com

Jerry Marrell, Principal
602.954.3744; jmarrell@leearizona.com

About Us:

Lee and Associates specializes in providing exceptional commercial brokerage services which include capital markets and investment services, industrial, office and land commercial brokerage to the Greater Phoenix and Arizona markets. 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.