JLL Capital Markets experts today announced the company arranged the sale of a 266,607-square-foot industrial portfolio on behalf of The Hewson Company. TA Realty purchased the portfolio, located in Scottsdale, Arizona and Tempe, Arizona, for $24.5 million.
Managing Directors Mark Detmer, Bo Mills and Bill Honsaker, Senior Vice President Steve Larsen and Vice President Ryan Sitov led the JLL team on the transaction.
“Both the Tempe and Scottsdale submarkets benefit from low vacancy rates and strong rental rate growth,” said Detmer. “The quality of the assets and tenant diversity made this portfolio an exceptional opportunity for investors.”
The portfolio is comprised of four industrial/flex assets, located at 9160 S. McKemy St., 9185 and 9245 S. Farmer Ave. in Tempe and 7400 E. Tierra Buena Lane in Scottsdale. The portfolio is over 96 percent leased to 12 tenants across a variety of industries, including IT services, transportation, automotive and home improvement.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $145 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.