Cal-Eaton Industrial Park (Photo courtesy of Lee & Associates)
Tempe industrial park sells for $8.9M
The Cal-Eaton Industrial Park at the southeast corner of Smith Road and Fifth Street in Tempe, sold for $8,950,000 or $84.00 per-square-foot. The transaction closed on June 30 and was 99 percent occupied at the time of sale.
Lee & Associates Principals Kurt Saulnier, Pat Dempsey and Jan Fincham represented the Tempe-based seller Cal-Eaton Properties, LP.
Cal-Eaton Properties originally developed the properties in 1984 and 1986 and has retained ownership for the past 32 years. The Lee team also secured the Portland-based buyer, Fifth Street Commerce Center, LLC.
The five multi-tenant buildings total 106,950 square feet and consists of 76 oﬃce/ warehouse bays and 15 small oﬃce suites. The property is located just West of the Loop 101 and just South of Tempe Marketplace.