Tempe industrial facility trades to Arizona Custom Blends
JLL Capital Markets represented the buyer in the sale and financing
PHOENIX, August 27, 2020 – JLL Capital Markets announced today that it has closed the $7.75 million sale of and arranged $11.8 million in financing for a 141,000-square-foot industrial distribution and warehouse facility in the Phoenix-area community of Tempe, Arizona.
JLL represented the buyer, ACB Properties, LLC, which then engaged JLL to secure the long-term, fixed-rate financing for the acquisition of the property and planned capital improvements with a national bank.
The building is at 2130 South Industrial Park Ave. in the central part of Tempe. With its easy access to Interstate 10, the flex facility location provides local access to the entire Phoenix MSA, regional access from Los Angeles/San Diego to El Paso and international access into Mexico.
The buyer plans to improve the property with a new roof, cooling system and upgraded office space and intends to use the property for its business, Arizona Custom Blends, which involves blending, packaging and encapsulation of nutraceuticals in an NSF-certified cGMP powder manufacturing facility.
“The buyer was attracted to this facility because of its central location with easy access to the freeway system,” Ackerman said. “The buyer’s business has grown exponentially over the last three years, and this acquisition and property improvement plan will allow them to continue to expand.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.