Tempe industrial park sold for $19.1M

Above: Kachina Industrial Park is an eight-building, 202,941-square-foot general industrial property with flexible loading and suite configurations to accommodate a variety of tenants. Real Estate | 27 Jun, 2017 |

Cushman & Wakefield completed the sale of Kachina Industrial Park, located at 1805-1850 W. Drake Drive in Tempe on behalf of Northern California-based Kieckhefer Properties. Libitzky Holdings LP of Emeryville, Calif. purchased the property for $19.1 million.

Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller.

Kachina Industrial Park is an eight-building, 202,941-square-foot general industrial property. The modern, high-image, multi-tenant complex is a well built, low- to mid-buildout general industrial property with flexible loading and suite configurations to accommodate a variety of tenants.

With a current occupancy of 98.7 percent, to high-credit tenants, Kachina Industrial Park is well located within the Tempe submarket, one of the strongest and most dynamic industrial areas in Metro Phoenix.

β€œThe acquisition supports strong intrinsic value and stable income with the potential to boost performance by implementing a proactive rollover program focused on upgrading lease rates to market in one of the strongest markets in Metro Phoenix,” said Buckley.

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