An industrial distribution and warehouse facility in Tempe will be undergoing renovations thanks to an agreement that enabled ACB Properties, LLC to purchase the property and arrange for the financing.
The facility spans 141,000 square feet at 2130 South Industrial Park Avenue. ACB Properties, LLC paid $7.75m and will spend $11.8m to make capital improvements in the building. The facility has access to all of the Phoenix-Mesa-Scottsdale Metropolitan Statistical Area and Interstate 10, international access to Mexico, and regional access to El Paso, Texas.
The improvements to the facility will include a new cooling system, a new roof, and upgraded office space. The buyer will be occupying the space for its business, Arizona Custom Blends, which provides Packaging, blending, and encapsulation of nutraceuticals in a manufacturing facility certified by the National Science Foundation. Stationery printers are often needed when businesses expand and move into new facilities with the need for Letterheads and Business Cards.
Managing Director Brian Ackerman of JLL Capital Markets which closed the sale said that the facility was attractive to ACB Properties because of its easy access to the freeway and its central location. The business of the buyer has grown tremendously over the past few years and it will now be able to continue to expand in this updated facility.
JLL Capital Markets provides capital solutions for investors and occupiers of real estate.
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2330 West University Drive
Suite 1
Tempe, AZ 85281
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