Cushman & Wakefield has advised the sale of a fully leased 72,142-square-foot industrial property in Tempe. Known as the Tempe Industrial Center the freestanding building is 100% leased and serves as the headquarters to a high-end bike manufacturing company, according to a news release.
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Real Estate
Tempe Industrial Center sold for $11.5M
Posted
Independent Newsmedia
Cushman & Wakefield has advised the sale of a fully leased 72,142-square-foot industrial property in Tempe. Known as the Tempe Industrial Center the freestanding building is 100% leased and serves as the headquarters to a high-end bike manufacturing company, according to a news release.
The property sold for approximately $11.5 million to Pennybacker Capital Management, LLC, a leading real asset private equity firm based in Austin, Texas.
Cushman & Wakefield’s Phil Haenel, Mike Haenel, Will Strong and Andy Markham, SIOR represented the seller and buyer in the transaction.
“The property is well positioned in the South Tempe industrial submarket, where vacancy is 4.0% according to Cushman & Wakefield’s latest Q3-2022 market report,” said Executive Managing Director Phil Haenel. “The property is also a prime example of the many manufacturing operations and corporate headquarters Tempe houses across a variety of industries.”
Located at 6720 S Clementine Road, Tempe Industrial Center is strategically located near multiple freeways, including Interstate 10 just a few blocks away and close proximity to State Routes 202, 60 and 101. The location is also minutes from Sky Harbor Industrial Airport.
