DCT Industrial Trust acquires Tempe industrial property
DTZ has announced today that DCT Industrial Trust (NYSE: DCT) purchased a fully leased, 49,956 square foot freestanding distribution center at 402 W. Geneva Dr. for $3.35 million. DCT Industrial Trust is a publicly-traded, real estate investment trust (REIT) specializing in the ownership, acquisition, leasing, development, redevelopment and management of bulk distribution and light industrial properties. The seller was West Geneva Building, LLC.
DTZ Senior Vice President Will Strong and Executive Managing Directors Mike Haenel and Andy Markham, SIOR, facilitated both sides of the transaction.
The industrial property is located in the well-positioned and highly sought after Broadway Industrial Park. It is minutes from Sky Harbor International Airport and Arizona State University and close to three freeways: Interstate 10, Loop 101 and U.S. Highway 60. The property is occupied by Wayne Dalton Garage Doors (dba NationServe).