Active Buyer Lands Tempe Complex in $5.8M Deal

TEMPE, AZ-Scottsdale-based International Capital Partners LLC, pushing a buying spree, has acquired a $5.8-million, four-tenant industrial complex known as Interstate Commerce Center in Tempe.

The 83,385-sf facility is now 100% occupied with long-term leases in five stand-alone buildings. The center currently is used for production, assembly, distribution and office space. Anchored by 40,380-sf Air Production & Chemicals (a $6-billion Fortune 500 company), the complex also hosts Protech Devices, an electronic device company occupying 14,930 sf; Mutoh Printing, 14,703 sf; and Aqua Cell Corp., a water device/container manufacturer, 8,372 sf.

“It was an unusual deal for us–30% below replacement cost–which is quite attractive based on the size of our tenants,” Tom Donahue, president of International Capital Partners, tells GlobeSt.com. “Our goal has been and will continue to be acquiring multi-tenant industrial and office properties, which provide a solid monthly cash flow coupled with capital appreciation. We also chose this facility because Tempe is the most centralized city in the county and has a great labor force plus great road access. It’s also close to Phoenix Sky Harbor Airport.”