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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