Lincoln Property Company announced it has acquired an infill office project in the heart of Tempe, Ariz., and will redevelop the site into Sky Harbor Logistics, a class A industrial campus situated minutes from Interstate 10 and Sky Harbor International Airport.
Lincoln acquired the property, located on 16.25 acres at 1515 W. 14th St., for $18.3 million. Originally built in 1977 as industrial space and renovated in 2016 into office product, the site is home to a 218,268-square-foot, single-story office building and 1,044-space parking garage. The 1515 building is partially leased to CarMax under a near-term lease expiration.
Lincoln will demolish the existing buildings at the site to prepare the land for Sky Harbor Logistics, a 254,000-square-foot industrial campus featuring two identical, 127,000-square-foot class A buildings with a shared truck court.
Features of Sky Harbor Logistics will include 32-foot clear height, 46 dock-high and 28 drive-in doors, 3,600
