A company formed by JDM Partners LLC acquired the 104,836 SF TSYS building at 8320 S. Hardy Dr. in Tempe for $14.3M ($136.59 PSF).
The seller is an entity of iStar Financial. The building is 100% leased to TSYS Acquiring Solutions LLC. Financing was provided by Bankers Trust and was arranged by James DuMars & Eric Flyckt of NorthMarq Capital.
“The parties involved worked hard to ensure an equitable process that worked to everyone’s advantage,” said Lee & Associates Principal Rick Lee, who represented the seller in the transaction. iStar Financial still controls four buildings containing 276,876 SF within the Warner Crossing Office Park.
Ryan Development Companies originally developed the property in 1997. The 2-story building sits on 7.93 acres and has ample surface parking. It is located close to Interstate 10, IKEA, Emerald Center and adjacent to the Tempe Sports Complex.