Last-Mile Logistics Demand Drives Pricing Up in Phoenix

An infill last-mile logistics company in Tempe has traded hands for $16.2 million or $127 per square foot. MRM Tempe sold the property to an unnamed partnership located outside of the state.

Located at 8210 S. Hardy Dr., the 128,000-square-foot building was constructed in the late 1990s as a built-to-suit project. It has remained 100% occupied by the same company since delivery, an express transit company.

JLL SVP Tivon Moffitt and Peter Bauman, and EVP Steve Larsen, represented the building seller in the deal.