Industrial Archives

Opus Airport Industrial Development sold

Opus

The Opus Group  sold Opus Airport Industrial, a 393,300-square-foot Class A warehouse and distribution center it recently completed. The building was sold to an entity formed by Principal Real Estate Investors, a subsidiary of the global asset management company Principal Financial Group. Opus reports it is unable to disclose the project’s cost or sale price. The… Read More →

Chandler industrial facility sells for $2.456M

Chandler industrial facility
by in AZRE Magazine | Industrial

NAI Horizon Senior Vice President Jeff Adams represented the buyer, Phoenix-based Marx Properties LLC, in the $2.456 million sale of a 26,199-square-foot industrial building at 4151 W. Lindbergh Way in Chandler, Ariz. The property sits on 1.83 acres along the Loop 202 with proximity to Stellar Airpark. It will be used for corporate event planning… Read More →

West Phoenix industrial facility sells for $33.55M

West Phoenix
by in AZRE Magazine | Industrial

Colliers International in Greater Phoenix negotiated the $33,550,000 sale of a 452,271-square-foot industrial facility in West Phoenix. The facility is occupied by Breakthru Beverage Group. The sale represents one of the highest prices paid per square foot in the market, reflecting the strong dynamics of the West Phoenix industrial submarket. “The West Phoenix submarket is… Read More →

Daum negotiates 100KSF manufacturing facility lease

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the lease of a 100,000-square-foot manufacturing facility located at 525 W. Alameda Dr. in Tempe. Rich Sica, executive vice president with Daum Phoenix, represented the lessee, 21st Century Healthcare, in the transaction. This represents Sica’s fourth lease transaction for the nutraceutical company to expand in the Valley over the past several… Read More →

‘Arizona Republic’ built-to-suit sold for $4.5M

Arizona Republic
by in AZRE Magazine | Industrial

A 35,328-square-foot distribution facility at 18808 N. 32nd St., Phoenix was sold to a Tustin, CA-based firm for $4,500,000 or $127.37 per-square-foot. Phoenix Newspapers Inc., parent company to The Arizona Republic, occupies the facility. Lee & Associates principal, Matt Hobaica, represented the buyer, Greenwood & McKenzie Real Estate Investments. The owner, E & H Smith &… Read More →

JLL to lease upcoming 250k SF industrial facility

JLL
by in AZRE Magazine | Industrial

The Phoenix office of JLL has been awarded the leasing assignment for Riverside 43, a 250,043-square-foot, fully speculative Class A industrial project that broke ground this week by Scottsdale-based Merit Partners Inc. The project is one of the last parcels in the Riverside Tax District in Phoenix’s West Valley submarket. Located at 2200 S. 43rd Ave. in Phoenix, Riverside… Read More →

CBRE completes $7.33 million sale of industrial property

CBRE
by in AZRE Magazine | Industrial

CBRE completed the sale of a 97,500-square-foot industrial property located at 440 N. 51st Ave. in Phoenix, Ariz. Bill Bayless with CBRE’s Phoenix office represented the buyer, Dolphin Manufacturing. The seller, Kalyx, was represented by Steve Sayre with JLL. The total consideration for the transaction was $7.33 million. “Dolphin Manufacturing’s current facility is being displaced due… Read More →

Valley’s industrial market remains red hot

New York Life Insurance Company

The Metro Phoenix industrial market remains strong through the third quarter of 2016, recording a vacancy rate of 9.3%, according to the third quarter industrial report released by Cushman & Wakefield. Fifteen of the 17 defined submarkets have experienced improvements in overall vacancy rates since Q3 2015. The Southwest Phoenix saw a decrease in vacancy, finishing… Read More →

Industrial trends and investments on the rise in Phoenix

Photo courtesy of SVN
by in AZRE Magazine | Industrial

The Phoenix industrial market has become a substantial revenue-generating investment in the valley. According to the US Capital Trends, the industrial market brought in $3.2 billion in July transaction volume alone. According to Real Capital Analytics, the Phoenix market is above average compared to other industrial markets across the United States. SVN advisor and newcomer… Read More →

Phoenix industrial facility sells for $2.55M

industrial facility
by in AZRE Magazine | Industrial

Arizona-based Commercial Properties, Inc. (CPI) negotiated the sale of an industrial building at 6902 W. Hadley St. in Phoenix. Lee & Associates represented the tenant, Sun Country Trailers, who exercised their lease purchase option and purchased the property for $2.55 million. The building is approximately 51,250 square feet, and was originally built in 1996 and is… Read More →

Demand for new industrial space rising, JLL Phoenix says

Customers looking for increased efficiencies are flocking to this new Class A space, which features amenities such as wide column spacing and clear heights of up to 36 feet. This trend is actively playing out at Airport I-10, in the airport submarket. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Industrial

The delivery of more than 2.8 million square feet of new industrial construction in Phoenix during the first half of 2016 has made an impact on the Valley, says the Phoenix office of JLL. In some cases, the additional industrial spaces have pushed industrial rental rates up by as much as 36 percent higher than their… Read More →

Trends to watch in 5 commercial real estate markets

Phoenix

It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

Huhtamaki picks Goodyear for manufacturing facility

by in AZRE Magazine | Industrial

Finland-based food packaging firm, Huhtamaki North America, acquired a 750,000-square-foot rail-served manufacturing and distribution facility at the Cotton Lane Commerce Park in Goodyear, according to an announcement from Newmark Grubb Knight Frank. Huhtamaki has indicated its intent to exceed $100 million in capital investment at the site, with the goal of building a “21st century… Read More →

225,600 SF Gilbert industrial facility opens

AZ|60 consists of two buildings and is near two major highways in the Phoenix area. (Photo courtesy of Conor Commercial Real Estate)
by in AZRE Magazine | Industrial

Conor Commercial Real Estate, a member of The McShane Companies, and Globe Corporation, completed construction on AZ|60, an industrial property within Gilbert. The new two-building, 225,600-square-foot speculative industrial property is located within Fiesta Tech Center strategically positioned just off the intersection of Arizona Avenue and Baseline Road in Gilbert, Arizona. The facility is available for immediate… Read More →