Tempe 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.

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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