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2/18/26
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In a recent industrial trade out of Tempe, AZ, Speed Bay paid $24.5 mil for Farmer Industrial Center, a 93.9k sf, two-building industrial park. The property is strategically located at 9185 and 9245 South Farmer Ave, east of I-10 and north of Ray Rd.
The property sits within the highly coveted infill industrial submarket of Tempe, offering exceptional connectivity with proximity to Interstate 10 just four minutes away and Loop 101 within seven minutes, providing convenient access to multiple major transportation arteries including Loop 202, US 60 and Sky Harbor International Airport.
The property features a 20-foot clear height, six dock-high and 13 grade-level doors, with additional capacity through two punch-outs, wet-pipe sprinkler systems and ample parking at 2.63 spaces per 1,000 square feet.
Currently 94.1% leased to seven tenants across diverse industries including aerospace, third-party logistics, home improvement services and electrical testing, the property provides a stable and balanced income stream with staggered rollover.
Senior Managing Director Ben Geelan, Senior Director Greer Oliver, Associate Bryce Beecher and Analyst Gigi Martin with JLL represented the seller, ViaWest Group and Walton Street Capital, in the transaction.
"Farmer Industrial Center represented an exceptional opportunity for investors seeking cash-flowing industrial assets with significant upside potential in one of the fastest-growing metros in the country," said Geelan. "With in-place rents below market and a short-term weighted average lease term, this property is perfectly positioned for value enhancement through near-term mark-to-market leasing in Tempe's disciplined development environment."
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