Daum Commercial Real Estate Services has negotiated the $11.22 million sale of three industrial buildings located in Phoenix.
In the first transaction, Zouras Trust of Santa Fe Springs, Calif. purchased two single-story industrial office buildings in Southbank Business Center located at 3249 and 3259 E. Harbour Dr. in Phoenix for $4.8 million. The 3249 E. Harbour Dr. facility totals 15,000 square feet and 27,000 square feet comprises the 3259 E. Harbour Dr. facility. Daum Phoenix Executive Vice President David Wilson and Associate Carter Wilson represented the buyer in the transaction, Zouras Trust. Ron Schooler of Commercial Properties Inc. represented the seller, Heritage Partners LLC of Costa Mesa, Calif.
In the second deal, Ewing Irrigation of Phoenix then purchased the 3249 E. Harbour Dr. facility from Zouras Trust for $2.15 million. Ewing Irrigation will occupy the entire building in late spring. David Wilson and Carter Wilson of Daum represented both the buyer and the seller.
In the third transaction, Zouras Trust purchased a 42,000-square-foot industrial and manufacturing building located at 2362 W. Shangri-La Rd. in Phoenix for $4.27 million. The seller was Maxin LLC of Phoenix. David Wilson and Carter Wilson of Daum also represented both the buyer and the seller in this transaction.
The Phoenix industrial market remains strong, with a vacancy rate of just 9.6 percent, the lowest in 10 years, according to Daum’s recent market report. Net absorption has recently almost doubled, while industrial building sales activity continues to be on the rise, Daum reports.