TEMPE – January 5, 2018 – Abington Emerson Investments, LLC continues to grow and diversify its Arizona portfolio by acquiring a light industrial/office property in Tempe. The 2007 built, well-maintained, modern style construction is centrally located in the city of Tempe, with easy access to all areas of the Phoenix Valley and freeways. The property is adjacent to Tempe Diablo Stadium, located within 3 miles of Arizona State University and is surrounded by numerous amenities.
The ±31,745 SF, state of the art, highly specialized office property is home to a single tenant who has been occupying the building since it was constructed and who signed a new 15-year lease upon acquisition.
“Acquired at an attractive cap rate and below replacement cost, the property offers stable cash flow and a hedge against the value-add properties currently in our portfolio,” commented Joshua Perttula, Managing Partner at Abington Emerson.