Realterm is pleased to announce that it closed on the acquisition of a 146,343 square foot mission critical last mile distribution center located at 1666 N. McClintock Drive in Tempe, AZ.
The fully leased, single tenant facility is strategically located in Tempe's growing East Valley employment core with exceptional nearby amenities. It sits on 11.16 acres and has 36 dock high doors and 11 grade level doors allowing for drive through and dock high loading capabilities. The city of Tempe is bordered by Phoenix, Scottsdale, Mesa and Chandler and surrounded by six major freeways – SR-101, SR-202, I-10, US-60, SR-87 and I-17. This gives the building easy access to the metro area and the more than 4.7 million people who live in greater Phoenix.
"The high flow-through characteristics of the building, proximity to key transportation, and location within a few minutes of downtown Tempe and several dense population centers, make this distribution center a valuable addition to the Realterm Logistics Income Fund (RLIF) portfolio," said Blair Duncan, Associate Vice President of Acquisitions.
Vacancies in the greater Phoenix industrial market are at an all-time low with demand continuing to grow. The East Tempe industrial market has a vacancy rate of only 4.15 percent.
Highlights of the property include:
- Square feet: 146,343 SF
- Land area: 11.16 acres
- Doors: 36 door high / 11 grade level
- Access: SR-101, SR-202, I-10, US-60, SR-87 & I-17, Phoenix and Scottsdale