Business & Development

Cushman & Wakefield notches $10.5M sale of significant Tempe industrial property

Elliot Park 10 now a part of Emeryville real estate portfolio

Posted 3/16/21

Elliot Park 10 now a part of Emeryville real estate portfolioCushman & Wakefield arranged the off-market sale of Elliot Park 10, a 95,300-square-foot, multi-tenant industrial property in Tempe. …

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Business & Development

Cushman & Wakefield notches $10.5M sale of significant Tempe industrial property

Elliot Park 10 now a part of Emeryville real estate portfolio

Elliot Park 10
1849 W. Drake Drive
Tempe, AZ
Posted

Cushman & Wakefield arranged the off-market sale of Elliot Park 10, a 95,300-square-foot, multi-tenant industrial property in Tempe.

Emeryville, a part of the California-based Libitzky Property Companies, acquired the multi-building property known as Elliot Park 10 from BKM Capital Partners for $10.5 million.  At the time of the sale, the property was 95% leased at the time of sale, according to a press release.

Bob Buckley and Tracy Cartledge with Cushman & Wakefield in Phoenix represented both parties in the sale.

“Libitzky owns an adjacent property and was therefore well aware of the excellent location dynamics for industrial in south Tempe, Mr. Bukley said in a prepared statement. “We approached the seller on their behalf and were able to consummate a transaction off-market.”

Elliot Park 10 comprises the addresses 1819–1849 W. Drake Drive and provides I-10 frontage. Built in the mid-1980s the structures underwent recent exterior improvements including new paint, roof and landscaping during BKM’s ownership.

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