Industrial Archives

Phoenix industrial activity on the rise, according to reports

Phoenix Industrial
by in AZRE Magazine | Industrial

Phoenix industrial vacancies have been down, according to one report, as another report sites high activity in Phoenix’s third-smallest industrial submarket, northwest Phoenix. Colliers International Colliers International in Greater Phoenix released its mid-year 2016 Industrial Market Report for Greater Phoenix, and found an increase in leases for the second quarter. The Colliers report highlighted: Industrial… Read More →

630k SF medical facility on track for completion

medical facility
by in AZRE Magazine | Industrial

Construction on the 630,000-square-foot Medline medical facility distribution center in Phoenix is set for its scheduled completion in September 2016, according to Milt Elmer, vice president of McShane Construction Company’s Southwest Region, the contractor for the project.. The new facility will allow Medline to consolidate its existing operations into one fully-equipped space at 87th Avenue and… Read More →

Tempe industrial park sells for $8.9M

Tempe Industrial Park
by in AZRE Magazine | Industrial

The Cal-Eaton Industrial Park at the southeast corner of Smith Road and Fifth Street in Tempe, sold for $8,950,000 or $84.00 per-square-foot. The transaction closed on June 30 and was 99 percent occupied at the time of sale. Lee & Associates Principals Kurt Saulnier, Pat Dempsey and Jan Fincham represented the Tempe-based seller Cal-Eaton Properties, LP. Cal-Eaton… Read More →

After leasing out for three years, LPC sells $30M industrial property

LPC
by in AZRE Magazine | Brokerage | Industrial

After leasing a Class A Lincoln Property Company (LPC) distribution facility in the heart of Phoenix’s Southeast Valley industrial market for three years, global supply chain leader XPO Supply Chain Inc. has opted to purchase the building for more than $30 million. A top-ten global provider of supply chain solutions, XPO (formerly Menlo Worldwide) originally occupied the LPC… Read More →

Phoenix property bought for candle making

3120 E. Washington
by in AZRE Magazine | Industrial

NAI Horizon Senior Vice President Isy Sonabend represented the buyer in the $2.215 million sale of an industrial property at 3120 E. Washington St. in Phoenix. NAI Horizon represented Remet Real Estate Holding Company, LLC, of Delaware. Built in 1994, the 22,635-square-foot building sits on 2.34 acres and will be used as a manufacturing facility… Read More →

ViaWest buys downtown Phoenix industrial facility

downtown Phoenix
by in AZRE Magazine | Industrial

Phoenix-based ViaWest Group closed on its sixth industrial acquisition in the past eighteen months, further expanding its Southwestern U.S. focused industrial platform. ViaWest purchased an 89,423-square-foot industrial building for $5.76 million. The building is located directly across from Chase Field near the corner of 7th Street and Jackson Street centered in the heart of downtown Phoenix. The seller was… Read More →

LGE Design Build completes production studio

LGE Design Build
by in AZRE Magazine | Industrial

LGE Design Build has completed construction on a 12,290-square-foot industrial building for Reel Men Studios, a film production and event rental company. The new building, 3902 E. Broadway Rd. in Phoenix, features a new Hollywood-caliber studio with the business goal of providing a low cost and highly efficient production environment for new and existing clients. The 50-foot by… Read More →

BKM Capital Partners acquires industrial asset for $58M

Industrial asset
by in AZRE Magazine | Industrial

BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, acquired Tempe Commerce Park, a 535,976 square-foot, five-building  property in Tempe in a limited marketing transaction for $58 million. This acquisition, which is BKM Capital Partners’ tenth acquisition in the Phoenix metro area this year, was acquired through… Read More →

CBRE completes sale of Gilbert manufacturing facility

Manufacturing
by in AZRE Magazine | Industrial

CBRE recently completed the sale of a ±124,144-sqare-foot manufacturing facility on 23.23 acres located near the full diamond interchange at US Highway 60 and Stapley Drive. The property is located at 619 N. Cooper Road in Gilbert. Evan Koplan and Mike Parker with CBRE’s Phoenix office negotiated the transaction. The seller was Phoenix-based Schuff Steel Company sold… Read More →

Liberty Property Trust hits 82% occupancy at industrial center

Dexcom
by in AZRE Magazine | Industrial

Liberty Property Trust signed a lease with Express Scripts for 81,300 square-feet of space at 2040 West Rio Salado Parkway in Liberty Center at Rio Salado located in Tempe. The building, which is now 82 percent leased, is the first light industrial development at the park. “Liberty Center at Rio Salado continues to attract top companies,” said John DiVall, senior vice… Read More →

SSGT acquires Phoenix self-storage development

SSGT
by in AZRE Magazine | Industrial

Strategic Storage Growth Trust, Inc. (SSGT), closed on its first “certificate of occupancy” transaction, a South Mountain Village area property in Phoenix. “We are excited to complete our first top-of-the-line, brand-new facility in a prime market like Phoenix,” said H. Michael Schwartz, chairman and CEO of SSGT. “We are already receiving a high degree of… Read More →

New York Life Insurance Company buys Phoenix building

New York Life Insurance Company
by in AZRE Magazine | Industrial

Cushman & Wakefield completed the sale of Phase 1 at 10 West Logistics Center, 6200 W. Van Buren St. The buyer is an entity owned by New York Life Insurance Company. The sellers are Phoenix-based Wentworth Property Company (“WPC”) and Crow Holdings Capital of Dallas, joint venture partners in the development. Cushman & Wakefield Executive Managing Director Andy… Read More →

Daum negotiates $5.6M industrial sale

Daum
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services has negotiated the $5.6 million sale of two industrial buildings located in Price Road Industrial Park in Chandler. The sale includes a 43,549 square-foot facility located at 2805 W. Frye Rd. and a 25,184-square-foot building located at 315 S. Bracken Ln., across five acres. Rich Sica with Daum Phoenix represented the seller,… Read More →

BKM acquires 3-property industrial portfolio in Phoenix

BKM
by in AZRE Magazine | Industrial

BKM Capital Partners, an institutional fund manager, acquired the RREEF Tempe portfolio, a 305,524 square-foot three-property portfolio, in an off-market transaction. The three properties are located in Tempe. The portfolio consists of 16 multi-tenant light industrial buildings and was purchased for $24.1 million, which is 34 percent below replacement cost. This portfolio was acquired as… Read More →