SOLD: Industrial Investment Property | Tempe, Arizona

206 West Julie Drive, a 8,062 SF industrial property fully leased to 3 tenants, sold this past week for $975,000 or $120.94 per square foot. The property is located at Ash Avenue and Julie Drive, just west of the Western Canal Trail and Kiwanis Park, among other industrial offices such as the Tempe Commerce Center, the Kyrene Commerce Center, Coxreels, and Wist Office Products. The location offers easy access to I-10, US-60 and the 202 Freeways, as well as to multiple live, work, play options.

206 West Julie Drive is exceptionally well maintained, boasting mature landscape, a fenced yard, masonry structure, and foam roofing. The property is encompassed in APN 301-82-033 and is zoned I-2. The building is approximately 90% air conditioned and includes storage mezzanines. The majority of tenants are long term, and are recession-proof: an conditioning service and repair shop, a supply firm for federal government clients, and a state-funded counseling firm.

This is the second deal that Nick Miner, CCIM has found for the Buyer, Bloomfield Capital, LLC, in the last several months. Nick Miner commented on the transaction, “This was the second transaction I have assisted my client with this year. This property fit my client’s 1031 Exchange. My client plans to keep the property long term due to the stability of the asset and tenants. This was a win-win transaction for both buyer and seller.

The transaction was negotiated by Nick Miner, CCIM of ORION Investment Real Estate, representing the Buyer, Bloomfield Capital LLC, and the Seller, Scott O’Connor, was self-represented.

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