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Home Depot-Leased Tempe Call Center Trades For $21M

1616 West 17th St.

Spirit Realty Capital acquired the 111K SF newly renovated 1616 West 17th St. in Tempe from Tempe One Investors LLC. The office building is fully leased to Home Depot and serves as the retailer's call center.

The facility is not an old-style cubicle farm call center. Renovated in 2015, the property features training rooms, energy-efficient LED lighting and a full workout facility.

"The opportunity was appealing to investors that saw a long-term secure income stream with Home Depot,” HFF's C.J. Osbrink said.

“We're seeing a significant push of capital into the Phoenix market,” he said.

Osbrink, along with colleague Nick Foster, repped the seller and procured the buyer.