Multi-tenant Industrial Park Sells for $8.9 Million in Tempe

TEMPE, Ariz. - July 7, 2016 - PRLog -- 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 office/warehouse bays and 15 small office suites. The property is located just West of the Loop 101 and just South of Tempe Marketplace.

For more information:

KURT SAULNIER
PRINCIPAL
602.954.3740
ksaulnier@leearizona.com

PAT DEMPSEY
PRINCIPAL
602.954.3772
pdempsey@leearizona.com

JAN FINCHAM
PRINCIPAL
602.954.3754
jfincham@leearizona.com

About Us:

Now in its 25th year, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, 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 nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.