Thursday, July 12, 2012

Diablo Technology Park Sold to Walton Street Capital for $35.24m

VIZZDA—July 12th, 2012 – Stephen Muller of The Muller Company has completed the sale of the Diablo Technology Park, a 353,982 SF industrial park directly south of Tempe Diablo Stadium, to Douglas Welker of Walton Street Capital for $35.24m or $99.56 per SF. 
Muller had previously acquired the property on May 19th, 2006 for $41m or $115.83 per SF from John Dishell of Wilshire Management with $500k down and new debt of $6.16m (note A), $4.2m (note B) and $25.84m with CapMark Bank and related entities. 
Walton Street Capital placed $14,743,491 down and financed the remainder of the purchase price with a $20.5m new loan with Prime Finance Partners. The property includes 37,088 SF light manufacturing built in 1981, 109,855 SF warehouse built 1988 and 86,088 SF tech center and business office built 1994 on 27.32 acres zoned GID.
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Paul Dionne
Research Analyst
(202) 258-9508

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