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Distribution building sells for $2.15M in investment transaction

A 25,570 SF industrial building at 1401 S. SIesta Lane in Tempe, sold for $2,150,000 or $84.08 per SF.

1401 S. Siesta Ln

Lee & Associates Broker Kurt Saulnier and Principal Ken McQueen worked both sides of the transaction. The seller was Dunbar Siesta of El Segundo, CA and the buyer was Adler Realty Investments of Woodland Hills, CA.

The building is currently half-leased and was purchased for invstment. Lee & Associates will retain the leasing assignment.

Built in 1997, the distribution building features 18’ ceiling height, 2 docks, 2 drive-ins and 32 surface parking spaces.

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