CBRE Investment Management Acquires Industrial Property In Tempe For $103.5M From ViaWest Group

The property asset involved in this transaction is an industrial property located at 6840 & 6860 South Harl Avenue in Tempe, AZ. The total sale price for this asset was $103,500,000. The property spans 357,103 square feet and features an impressive price per square foot of $290. The industrial facility, constructed in 2022, is 88% leased and boasts specifications such as 32-foot clear heights, 66 docks, 200-foot truck courts, LED lighting, and extensive parking.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $103,500,000
• Buyer: CBRE Investment Management
• Seller: ViaWest Group
• Broker: Kidder Mathews
• Square Footage: 357,103
• Price Per Square Foot: $290
• Built Year: 2022
• Leased Percentage: 88%
• Clear Height: 32 feet
• Docks: 66
• Truck Courts: 200 feet
• Lighting: LED
• Parking: Extensive

This transaction was represented by Kidder Mathews acting on behalf of the seller, ViaWest Group, and facilitated the transfer to the buyer, CBRE Investment Management. The involved entities executed the deal efficiently, securing a significant industrial asset in the Tempe market.