DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales, and property management, has completed the acquisition of a 39,813 square-foot manufacturing and distribution industrial building in Tempe, Arizona on behalf of a private investor. The total consideration for the purchase was $7.3 million.

“Arizona is one of the country’s fastest-growing states, and the Phoenix Metro in particular, including Tempe, is experiencing tremendous population growth,” says Parker Houston, Associate Vice President in DAUM Commercial’s Phoenix office. “This bodes well for investors in the region’s industrial sector, particularly manufacturing and distribution facilities that serve the area.”

According to DAUM research, several Phoenix industrial market fundamentals improved during Q3 2024, with sales volume increasing 30.2%, leasing activity rising 41.4%, and rental rates growing 1% during the quarter. Industrial properties under construction in the metro have experienced a steady decrease over the last five quarters, an indication that supply is in check and elevating the value of existing properties in the market, notes Houston.
The asset acquired is centrally located in Tempe, with close proximity to major freeways and Sky Harbor Airport. The building, which features seven dock doors and heavy power to accommodate both manufacturing and distribution uses, was the investor’s first purchase in the Tempe market.

“The DAUM team of myself, Chris Rogers, and Trevor McKendry drew upon our extensive network to identify an opportunity to assist our client in purchasing a highly desired industrial asset in a strong submarket with a robust transportation infrastructure,” says Houston. “We were able to help the buyer acquire the property at a solid basis, allowing them to implement additional improvements that will attract quality tenants.”

The property is located at 1326 West Fairmont Drive, Tempe, AZ 85282

About DAUM Commercial
DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has 11 offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.