Minnesota-based Opus Development Co. bought an 18-acre infill site in Tempe and plans to redevelop it as a two-building speculative industrial park.
The property, at 1320 W. Warner Road in Tempe is planned to include two buildings totaling 197,000 square feet of space, with construction expected to begin in the first quarter of the year. There is an existing office building on the site that will be demolished for the new development, according to city of Tempe documents.
Opus bought the site for $9.3 million. Brian Ackerman and Connor Clark of JLL represented the seller, which, according to city of Tempe documents is Honeywell International.
The nearly 18-acre site includes an existing 6-story office building, two surface parking lots, existing underground utility infrastructure and a large detention basin on the site, documents submitted to the city of Tempe said.