Trio of Tempe warehouses sold for $22 million

 

 

 

 

 

 

 

 

 

“I didn’t attend the funeral, but I sent a nice letter saying that I approved of it.”

-Mark Twain

 

Kristena Hansen Reporter- Phoenix Business Journal

Two publicly traded real estate investment trusts swapped three large-scale warehouses in Tempe in a $22.1 million-portfolio deal that recently closed, according to a statement today by the Phoenix office of Jones Lang LaSalle.

San Francisco-based Prologis Inc. (NYSE: PLD) sold the Tempe buildings — which together total about 308,000 square feet — to Denver-based DCT Industrial Trust Inc. (NYSE: DCT) for an average $71.74 per square foot. That’s above the $59.47-per-square-foot average for industrial space across metro Phoenix, according to LoopNet’s data as of July.

The warehouses are about one-half mile from one another near major cross streets Southern Avenue and Hardy Drive, which is in the middle of the third-largest industrial submarket in the Valley with roughly 28.75 million square feet of inventory, according to JLL’s second-quarter data.

All three industrial facilities are fully occupied by tenants such as ACI Plastics Inc., Misty Mate Inc., Triumph Group Inc. and United Stationers Supply Co. The Tempe industrial submarket’s vacancy rate last quarter stood at 11.3 percent, the fifth highest Valleywide, according to JLL.

“These buildings are exceptional in that they combine outstanding functionality and full occupancy with a true Class A image in an infill location,” Mark Detmer, a managing director at JLL who helped broker the deal, said in the statement. “This includes access — within minutes — to many of the key amenities that a high-end industrial user might need: an extensive freeway network, international airport, deep labor pool and host of retail opportunities.”

The acquisitions bring DCT’s Phoenix portfolio to 2.1 million square feet, roughly 3 percent of its total portfolio size, according to the REIT’s separate statement released today.

Kristena Hansen covers residential and commercial real estate.  READ MORE..

http://www.bizjournals.com/phoenix/news/2013/08/28/trio-of-tempe-warehouses-sold-for-22.html?ana=e_phx_rdup&s=newsletter&ed=2013-08-29

 

 

a little about me and my expertise – video

LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA

https://www.youtube.com/watch?v=PPs3kpKR4nY

 

 

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.

 

 

View my listings and my profile at:

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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial and  Landspecialist in Phoenix and a Landspecialist in Arizona.

 

1.

WHETHER YOU LEASE OR OWN

NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.

 

In my opinion in Arizona we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.

2.

IF YOU OR ANYBODY YOU KNOW IS IN TROUBLE WITH YOUR BUSINESS, AS MANY AMERICANS ARE IN THE MOMENT, AND ARE ABOUT TO LOSE YOUR COMMERCIAL PROPERTY, PLEASE CONTACT ME.  IF YOUR BANK IS BEHAVING BADLY I MAY BE ABLE TO HELP YOU GET OUT OF SOME OR MAYBE A LOT OF FUTURE HEADACHES.

 

3.

WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME

  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.

Since I was a Land Specialist in Arizona and a Land Speciaost in Phoenix many of my clients, Sellers and Buyers remember me and now they are calling me again, so this is the time to get back into land and none of my clients, including future clients, will miss out on getting their best deal.

Also, if you are up-side down on your land, like many Americans, and the lender is giving you a hard time, now is the time to put your land on the market. Lenders are making deals now with short sales.  I have been working with banks for many years – I learned how to work with them.

 

If you have any questions about the 1 to  3 above, about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.

 

Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell)  602-778-5110 (office direct).

 

www.Walter-Unger.com

 

 

 

Thank You

Walter

 

Walter Unger CCIM

Associate Broker

Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

Cell:      520-975-5207

Direct:   602-759-1202

Office :  602-445-4141

Fax:      602-445-4188

walterunger@ccim.net

 

Delivering the New Standard of Excellence in Commercial Real Estate

 

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www.KLCommercialGroup.com

 

 

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