November 17, 2024 12:46 am
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SOLD! Tempe development site

By AZRE

JLL Capital Markets announced today that it has closed the $9.3 million sale of an 18-acre prime Tempe development site for a to-be-built, two-building, 197,000 square-foot speculative industrial property in a last mile-location on West Warner in Tempe.

JLL arranged the sale on behalf of the buyer, Opus Development Company, L.L.C., who acquired the property. Construction is set to begin in first quarter of 2022, and the buyer has engaged JLL’s leasing team.

The site is at 1320 and 1330 West Warner Rd. in the southern part of Tempe, blocks from Interstate 10. This sought-after logistics location provides access to the vital transportation infrastructure for the entire Phoenix MSA. With this dense location, a tenant can quickly reach 206,191 residents within the growing submarket, which is expected to balloon to 221,587 residents by 2026. Additionally, future industrial tenants have an entry into both Mexico and Southern California.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.