Hohokam Court, a single-story 70,800-square-foot building in Tempe, was acquired by Alignment Realty Capital (ARC) for $11.7 million. The Phoenix Business Journal reports ARC was represented by brokers at Lee & Associates, while the sellers were represented by JLL.
The building at 2005 W. 14th Street was fully leased at the time of closing.Â
Six current tenants range from logistics to health care and professional services. Among those are Total Quality Logistics (TQL), San Tan Communications, Hope Group and SISU Health Solutions.
Since the building was built in 1989, occupancy rates have consistently hovered around 90%.
For the year ahead, the new owner has plans to purchase more properties in the state, with his eyes on sites that have small-bay industrial, single-story, low-density office, select retail investments and industrial outdoor storage.
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