WESTCORE PROPERTIES SELLS BROADWAY BUSINESS PARK IN HEART OF TEMPE, ARIZONA INDUSTRIAL CORRIDOR
Accurate Chemical & Services Acquires Property for $1.5 Million and Plans Expansion
TEMPE, Ariz. – Jan. 7, 2015 – As another successful example of its strategic approach to opportunistic investing, Westcore Properties has sold its 28,080-square-foot Broadway Business Park property in Tempe to Accurate Chemical & Services for $1.5 million. The sale enables Accurate Chemical & Services to expand their operations in the Tempe Industrial Corridor.
Located at 731 W. Fairmont Drive, minutes from the I-10 Freeway, the single-tenant, industrial property was acquired by Westcore Properties in 2011. Accurate Chemical & Services, a Tempe-based company that provides sanitation supplies to the restaurant and hospitality industry, will expand its operations by 12,500 square feet when it moves into its new warehouse space in early 2015. Additionally, Accurate Chemical & Services looks to grow their staff by 25 percent.
“We felt that the timing was right to sell this property and recapitalize our investment,” said Marc Brutten, founder and chairman of Westcore Properties. “We identified a strong business that will provide job growth and have a strong economic impact on the region, and we’re glad to make this deal work.”
Dan Colton with Colton Commercial represented Accurate Chemical & Services in this acquisition. Westcore Properties was represented by Pete Klees with Cassidy Turley.