The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
April 13, 2021
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Realterm Spends $27 Mil on AZ Last-Mile Facility


Realterm, a Maryland-based logistics real estate firm, has acquired a 145.9k sf last-mile distribution center in Tempe in a $27 mil ($185/sf) transaction. The property is 100% occupied by FedEx.

The single-story building, located at 1666 N. McClintock Drive, was constructed in 2004 as a build-to-suit for FedEx, which recently signed a triple-net lease extension. It features 24-foot clear heights, 11 grade-level overhead doors and 36 dock-high doors. It is accessible by a three-lane driveway along McClintock Drive.

The property is located a few minutes from downtown Tempe and Arizona State University, as well as near 1.3 msf of retail at Tempe Marketplace and 2 msf of retail at Fashion Square Mall in Old Town Scottsdale.

Geoffrey Turbow, Gary Cornish, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson, and Bill Bayless with CBRE represented the seller, a local real estate investment firm.

“Aggressive interest in the Phoenix market resulted in the second-highest price per square foot in Phoenix Metro’s history for industrial buildings built before 2015 and larger than 100k sf,” said Turbow. “Such pricing reflects investors' bullish attitude for growth markets like Phoenix where demand for industrial remains unabated.”

A recent survey of commercial real estate investors ranked Phoenix as a top-10 target among Americas metros. The Sun Belt market jumped five spots to No. 4 in CBRE’s 2021 Americas Investor Intentions Survey.

Return to the previous page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media