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Single-Tenant Industrial

Truesdell Corporation

1310 W 23rd St, Tempe, AZ 85282

Listing Price: $4,035,022

Cap Rate
6.81%
Gross SF
17,755
Price/Gross SF
$227.26
Lot Size
2.54 acres
Year Built
1963
Rentable SF
17,755

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a newly leased, rare Tempe in-fill industrial property. This Asset is leased by Truesdell Corporation, a leader in the concrete and infrastructure business sector. Truesdell Corporation has occupied the Asset since August 2006 and has newly executed a 5-year lease with renewal options. The Asset is unique for the area featuring a 2.54 acre, fenced in yard space with direct access to Priest Road. This location serves as the headquarters for Truesdell and is used for their office, outside storage, warehousing, equipment repair in addition to other essential operations for the business. Strategically located, the property is less than 3 miles from Sky Harbor Airport, less than 1 mile from Interstate 10, 1 mile from US 60, and in close proximity to the surrounding major highways including I-17, Loop 202, Loop 101, State Route 143, and State Route 51. In addition, one of the country’s most populous universities, Arizona State University, is just a 6-minute drive from the asset and the area has experienced vertical redevelopment. This offering presents the opportunity to own a scarce product type in a submarket with high barriers to entry as well as a stabilized tenant with a passive ownership structure.

Investment Highlights

  • Rare, in-fill Tempe site with outdoor yard storage
  • 2% industrial vacancy in the submarket
  • Brand new 5-year lease term with options
  • Situated less than 1 mile from Interstate 10, US 60, and a short drive from I-17, Loop 202, Loop 101, State Route 143, and State Route 51
  • Scarce product type in a submarket with high barriers to entry as well as a stabilized tenant with a passive ownership structure

Exclusively Listed By

Single-Tenant Industrial

Truesdell Corporation

Listing Price: $4,035,022

Cap Rate
6.81%
Gross SF
17,755
Price/Gross SF
$227.26
Lot Size
2.54 acres
Year Built
1963
Rentable SF
17,755

Investment Highlights

  • Rare, in-fill Tempe site with outdoor yard storage
  • 2% industrial vacancy in the submarket
  • Brand new 5-year lease term with options
  • Situated less than 1 mile from Interstate 10, US 60, and a short drive from I-17, Loop 202, Loop 101, State Route 143, and State Route 51
  • Scarce product type in a submarket with high barriers to entry as well as a stabilized tenant with a passive ownership structure

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a newly leased, rare Tempe in-fill industrial property. This Asset is leased by Truesdell Corporation, a leader in the concrete and infrastructure business sector. Truesdell Corporation has occupied the Asset since August 2006 and has newly executed a 5-year lease with renewal options. The Asset is unique for the area featuring a 2.54 acre, fenced in yard space with direct access to Priest Road. This location serves as the headquarters for Truesdell and is used for their office, outside storage, warehousing, equipment repair in addition to other essential operations for the business. Strategically located, the property is less than 3 miles from Sky Harbor Airport, less than 1 mile from Interstate 10, 1 mile from US 60, and in close proximity to the surrounding major highways including I-17, Loop 202, Loop 101, State Route 143, and State Route 51. In addition, one of the country’s most populous universities, Arizona State University, is just a 6-minute drive from the asset and the area has experienced vertical redevelopment. This offering presents the opportunity to own a scarce product type in a submarket with high barriers to entry as well as a stabilized tenant with a passive ownership structure.

Exclusively Listed By

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