Speed Bay paid $24.5 million for Farmer Industrial Center, a 93,900 square foot, two-building industrial park in Tempe. ViaWest Group and Walton Street Capital were the sellers.

Currently 94.1% leased to seven tenants across diverse industries including aerospace, third-party logistics, home improvement services and electrical testing, the property provides a stable and balanced income stream with staggered rollover.

The property is located at 9185 and 9245 South Farmer Ave, east of I-10 and north of Ray Rd. The property offers connectivity, with Interstate 10 just four minutes away and Loop 101 within seven minutes, providing access to multiple major transportation arteries, including Loop 202, US 60, and Sky Harbor International Airport.

Senior Managing Director Ben Geelan, Senior Director Greer Oliver, Associate Bryce Beecher and Analyst Gigi Martin with JLL represented the seller, ViaWest Group and Walton Street Capital, in the transaction. 

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