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1/08/14
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Voit Real Estate Services has purchased Warner Business Center in Tempe, AZ. The acquisition consists of seven buildings of Class A office and industrial space, totaling 320k sf. The property is located on a 25.2-acre parcel off of Warner Rd and Beck Ave.
The project was 67% leased at time of sale. It features excellent floor plans, convenient I-10 Fwy access and Warner Rd frontage and visibility, while also close to food, entertainment and retail amenities. Voit plans to improve the landscape and vacant spaces to position the property for tenants seeking space in a dynamic and high profile location.
Tom Richards in the Phoenix office and Chris Evans in the Newport Beach office of Voit Real Estate Services consulted on the acquisition and due diligence for the project.
This project represents Voit’s largest acquisition property in the last seven years; it’s fifth in the last two years and shows the firm’s confidence in the strength of the Phoenix marketplace.
According to Bob Voit, CEO and founder of Voit Real Estate Services, the company intends to make significant physical improvements to the property, including enhancing and creating more common areas, landscaping and project signage, which will be led by Kelly Bast, Voit’s onsite Senior Real Estate Manager.
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