Realterm Buys FedEx-Occupied Distribution Center in Tempe for $27M
TEMPE, ARIZ. — Realterm, a Maryland-based logistics real estate firm, has purchased a distribution facility located at 1666 N. McClintock Drive in Tempe. A local real estate investment firm sold the property for $27 million.
Constructed in 2004 as a build-to-suit for FedEx, the single-story, 145,872-square-foot building features 24-foot clear heights, 11 grade-level overhead doors, 26 dock-high doors and a three-lane driveway along McClintock Drive. FedEx recently signed a triple-net lease extension at the last-mile property.
Geoffrey Turbow, Gary Cornish, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson and Bill Bayless of CBRE represented the seller in the deal.