Annapolis, Maryland (April 20, 2021) – Realterm is pleased to announce that it closed on the acquisition of a 146,343 square foot mission critical last mile distribution center located at 1666 N. McClintock Drive in Tempe, AZ.
The fully leased, single tenant facility is strategically located in Tempe’s growing East Valley employment core with exceptional nearby amenities. It sits on 11.16 acres and has 36 dock high doors and 11 grade level doors allowing for drive through and dock high loading capabilities.
The city of Tempe is bordered by Phoenix, Scottsdale, Mesa and Chandler and surrounded by six major freeways – SR-101, SR-202, I-10, US-60, SR-87 and I-17. This gives the building easy access to the metro area and the more than 4.7 million people who live in greater Phoenix.
"The high flow-through characteristics of the building, proximity to key transportation, and location within a few minutes of downtown Tempe and several dense population centers, make this distribution center a valuable addition to the Realterm Logistics Income Fund (RLIF) portfolio,” said Blair Duncan, Associate Vice President of Acquisitions.
Vacancies in the greater Phoenix industrial market are at an all-time low with demand continuing to grow. The East Tempe industrial market has a vacancy rate of only 4.15 percent.
Highlights of the property include:
Square feet: 146,343 SF
Land area: 11.16 acres
Doors: 36 door high / 11 grade level
Access: SR-101, SR-202, I-10, US-60, SR-87 & I-17, Phoenix and Scottsdale
A photo of the distribution center can be found here.
Realterm is a real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $7 billion in assets through five logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and IndoSpace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.