LaSalle Investment Management Acquires Tempe Commerce Park
LaSalle Investment Management has recently announced a significant acquisition, continuing to bolster its portfolio in the industrial real estate sector. The company has successfully acquired Tempe Commerce Park, an extensive industrial complex located in a metropolitan area renowned for its growth and development.
Overview of the Tempe Commerce Park Acquisition
This acquisition involved acquiring a five-building industrial complex that spans an impressive 536,122 square feet. Situated on approximately 36.79 acres, this property offers impressive features including 24-foot clear heights, ample dock-high and grade-level doors, and additional parking space.
Leasing and Tenant Details
The complex is currently 92% leased to a diverse mix of tenants, which includes reputable companies such as McKesson, Genuine Cable Group, and Rivian. This mix is significant as it indicates a stable revenue stream for LaSalle, enhancing the overall value of their portfolio.
Strategic Importance of the Location
One of the most compelling aspects of Tempe Commerce Park is its location within a highly sought-after submarket. It grants excellent accessibility to major transportation routes, making it an ideal locale for logistics and distribution companies aiming to maximize efficiency.
Insights from LaSalle Leadership
Jim Garvey, President and Portfolio Manager of the LaSalle Property Fund, commented on the acquisition, stating, "This addition aligns perfectly with our strategy to increase our industrial footprint in high-growth metropolitan markets. Tempe Commerce Park represents a valuable entry into a prime infill submarket that is rich with potential."
Matt Bogovich, Vice President of Transactions, also shared his enthusiasm about the acquisition, highlighting the property's strategic location and diverse tenant base as key factors that position it well for future growth amidst a booming industrial market.
About LaSalle Investment Management
LaSalle Investment Management stands as a leader in the real estate investment sector, managing assets totaling approximately $88.2 billion globally. The firm caters to a wide range of clients, including pension funds, insurance firms, governments, and corporations. This acquisition underscores LaSalle's commitment to providing robust investment vehicles designed to meet varying client needs.
Contact and Further Information
For those interested in learning more about LaSalle Investment Management and their operations, further information can be found on their official website. Additionally, Alissa Schachter can be contacted for inquiries related to the company.
Email: alissa.schachter@lasalle.com
Telephone: +1-312-339-0625
Frequently Asked Questions
What is Tempe Commerce Park?
Tempe Commerce Park is a five-building industrial complex recently acquired by LaSalle Investment Management. It covers 536,122 square feet.
Who are the main tenants of the park?
Notable tenants include McKesson, Genuine Cable Group, and Rivian, contributing to the complex's 92% occupancy rate.
Why is the location important for industrial properties?
The location provides superior accessibility to major transportation routes, which is crucial for logistics and distribution companies.
What is LaSalle Investment Management's investment strategy?
LaSalle focuses on increasing its industrial allocations in high-growth metropolitan markets, seeking properties that offer strong revenue potential.
How can I contact LaSalle for more information?
For inquiries, you can reach Alissa Schachter via email at alissa.schachter@lasalle.com or call +1-312-339-0625.
