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6/28/17
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Kachina Industrial Park, an eight-building, 202.9k sf business park in Tempe, AZ, was sold by NoCal-based Kieckhefer Properties for $19.1 mil, or $94/sf. The property, located at 1805-1850 W. Drake Dr, was purchased by Libitzky Holdings LP, out of Emeryville.
Kachina Industrial Park, a modern, high-image, multi-tenant complex, is a well built, low- to mid-buildout general industrial property with flexible loading and suite configurations to accommodate a variety of tenants. At present, the park has an occupancy rate of 98.7%, to mostly high-credit tenants. Kachina Industrial Park is well located within the Tempe submarket, one of the strongest and most dynamic industrial areas in Metro Phoenix.
Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller in the deal.
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