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8/28/20
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ACB Properties LLC acquired a 141k sf industrial distribution and warehouse facility in Tempe, AZ for $7.75 mil. The company completed the buy with a loan for $11.8 mil, which includes money for significant improvements to the asset.
The building is at 2130 South Industrial Park Ave, in the central part of the city. With its easy access to I-10, the flex facility location provides local access to the entire Phoenix MSA, regional access from Los Angeles/San Diego to El Paso and international access into Mexico.
The buyer plans to improve the property with a new roof, cooling system and upgraded office space and intends to use the property for its business, Arizona Custom Blends, which involves blending, packaging and encapsulation of nutraceuticals in an NSF-certified cGMP powder manufacturing facility.
Brian Ackerman with JLL Capital Markets Investment Advisory team repped the buyer. Carl Beardsley, also with JLL, secured the long-term, fixed-rate financing for the acquisition of the property and planned capital improvements through a national bank.
“The buyer was attracted to this facility because of its central location with easy access to the freeway system,” Ackerman said. “The buyer’s business has grown exponentially over the last three years, and this acquisition and property improvement plan will allow them to continue to expand.”
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