{"id":1004671651,"date":"2023-07-11T23:41:54","date_gmt":"2023-07-12T07:41:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004671651"},"modified":"2023-09-01T02:39:48","modified_gmt":"2023-09-01T10:39:48","slug":"lacera-sells-phoenix-area-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/","title":{"rendered":"Lacera Sells Phoenix-Area Office Asset"},"content":{"rendered":"<div id=\"attachment_1004671653\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004671653\" data-attachment-id=\"1004671653\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/8160-south-hardy-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg\" data-orig-size=\"2759,2069\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;7.1&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7RM4A&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1655137426&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;17.3&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"8160 South Hardy Drive\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;8160 South Hardy Drive. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg?w=1024\" class=\"wp-image-1004671653 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg?w=300\" alt=\"8160 South Hardy Drive\" width=\"300\" height=\"225\" \/><\/a><p id=\"caption-attachment-1004671653\" class=\"wp-caption-text\">8160 S. Hardy Drive. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p><\/div>\n<p>A 94,916-square-foot industrial\/flex office building in Tempe, Ariz., has changed hands. A private investor acquired the asset from <strong>Lacera<\/strong>, according to CommercialEdge, for $13.9 million, public records show.<\/p>\n<p><strong>Cushman &amp; Wakefield<\/strong> brokered the transaction on behalf of the seller and provided leasing advisory services. <strong>Lee &amp; Associates <\/strong>represented the buyer.<\/p>\n<p>At the time of the sale, the property&#8217;s sole tenant, occupying 69 percent of the asset, was a financial services firm. Previously, the building served as headquarters for MicroAge.<\/p>\n<p>Completed in 1997, the single-story property sits on an approximately 10-acre lot, according to the same data provider. It features 18-foot clear heights and a parking ratio of 7.1\/1,000 square feet.<\/p>\n<p>The asset is located at 8160 S. Hardy Drive, close to Interstate 10 and 14 miles from downtown Phoenix. Central Tempe is roughly 7 miles away. The property is adjacent to the Tempe Sports Complex and has access to numerous retail and dining options along the nearby West Elliot Road.<\/p>\n<p>Cushman &amp; Wakefield\u2019s Executive Managing Director Chris Toci and Vice Chairman Eric Wichterman, along with Managing Director Mike Coover and Executive Director Steve Lindley, represented the seller in the transaction. Recently, the same team worked with Lacera in the <a href=\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-flex-industrial-portfolio\/\">sale of another industrial\/flex office portfolio<\/a> in the area.<\/p>\n<p>In prepared remarks, Wichterman stated that the asset was a great value-add investment opportunity and the buyer had a strong prospective tenant for the remaining vacant space in the building. Lee &amp; Associates Principal Marcus Muirhead worked on behalf of the buyer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 95,000-square-foot industrial\/flex had an occupancy rate of 69 percent.<\/p>\n","protected":false},"author":3120,"featured_media":1004671653,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1601,51973],"tags":[39825,32799,46799,32762,44357],"class_list":["post-1004671651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-phoenix","category-southwest","tag-chris-toci","tag-cushman-wakefield","tag-eric-wichterman","tag-lee-associates","tag-steve-lindley"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lacera Sells Phoenix-Area Office Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Lacera has sold an industrial\/flex office building totaling 94,916 square feet in Tempe, Ariz., to a private investor.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lacera Sells Phoenix-Area Office Asset\" \/>\n<meta property=\"og:description\" content=\"Lacera has sold an industrial\/flex office building totaling 94,916 square feet in Tempe, Ariz., to a private investor.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-12T07:41:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-01T10:39:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2759\" \/>\n\t<meta property=\"og:image:height\" content=\"2069\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Radu Corfus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/\",\"name\":\"Lacera Sells Phoenix-Area Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg\",\"datePublished\":\"2023-07-12T07:41:54+00:00\",\"dateModified\":\"2023-09-01T10:39:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\"},\"description\":\"Lacera has sold an industrial\/flex office building totaling 94,916 square feet in Tempe, Ariz., to a private investor.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lacera-sells-phoenix-area-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/8160-South-Hardy-Drive-e1689073471612.jpg\",\"width\":2759,\"height\":2069,\"caption\":\"8160 South Hardy Drive. 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