X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TEMPE, AZ-CCA Acquisition, a San Fernando Valley, a California-based investment company, has closed a $2-million acquisition of a 40,300-sf multi-tenant building in the heart of Tempe’s industrial district.

The 40,300-sf industrial building is situated at 1721 W. 10th Place. It is near the southwest corner of Priest and University drives and about a mile north of the intersection of Interstate 10 and Superstition Freeway. Sky Harbor Airport is about two miles west of the building site.

As with most submarkets in the Valley, Tempe’s industrial market has been off for the past few quarters. Year to date, Tempe has a negative net absorption of more than 400,000 sf in its industrial market, the second highest of any Valley submarket. The vacancy rate at the end of the second quarter was 7.4% in comparison compared to 7.2% overall.

Rich Sica of the Phoenix office of DAUM Commercial Real Estate Services, represented the seller, 10th Place Properties LLC. Bill Pentz of DAUM’s San Fernando Valley office, acted on the buyer’s behalf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.