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News release

Phoenix, AZ

JLL sells fully leased Tempe Distribution Center

Occupancy, demographics drive investor interest

PHOENIX, July 5, 2018 – JLL's Capital Markets experts today announced the sale of the fully leased Tempe Distribution Center in Tempe, Arizona. The property, which totals 248,772 square feet in two buildings, sold to TA Realty LLC.

Managing Directors Mark Detmer and Bo Mills, and Vice President Ryan Sitov led the JLL Capital Markets team on the sale. They worked with JLL Executive Vice President Steve Sayre, who serves as the exclusive leasing broker for the property seller, San Francisco-based Stockbridge Capital Group.

"Prime location and a strong institutional management strategy has allowed Tempe Distribution Center to attract and retain – and thrive with – a key group of long-term, 'sticky' tenants," said Detmer. "This has carved out a very strong position for the property, in a market that has seen a 21 percent industrial rent growth in the last five years, with no signs of slowing."

Tempe Distribution Center 2.jpgTempe Distribution Center is located on 13 acres at 6718 S. Harl Ave. and 9230 S. Farmer Ave., in the heart of the south Tempe industrial market. The 6718 building totals 149,755 square feet and is fully leased to Bunzl California and Canyon State Box and Container. The 9230 building totals 99,017 and is fully leased to Kovach LLC.

The project has more than 1 million workers located within a 15 mile radius and is in close proximity to several major transportation routes – minutes from a full diamond interchange at Interstate 10, within minutes of the Loop 101 freeway and Sky Harbor Airport, and less than sixteen miles from nearby rail yards. Regionally, the property is less than six hours from the Ports of Los Angeles and Long Beach, and less than 12 hours from other western U.S. distribution hubs such as San Francisco, Salt Lake City, Denver and Albuquerque.

According to JLL, the overall Phoenix industrial vacancy rate sits at just 7.6 percent – its lowest in a decade.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Phoenix, JLL is a market leader employing more than 580 of the region's most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process. In 2017, the Phoenix team completed 35.7 million square feet in lease and sale transactions valued at $1.9 billion, directed $112 million in project management and currently manages a 24.2 million-square-foot portfolio. For more news, videos and research resources on JLL, please visit or