industrial Archives

Market upside helps JLL sell Phoenix Logistics Center

Strong market performance and continued confidence in Phoenix’s industrial market future has spurred the $18.4 million sale of Phoenix Logistics Center – sold this week by the Phoenix office of JLL on behalf of a joint venture between Overton Moore Properties and PCCP LLC, and acquired by Colony Northstar. JLL Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov represented… Read More →

Tempe industrial park sold for $19.1M

Cushman & Wakefield completed the sale of Kachina Industrial Park, located at 1805-1850 W. Drake Drive in Tempe on behalf of Northern California-based Kieckhefer Properties. Libitzky Holdings LP of Emeryville, Calif. purchased the property for $19.1 million. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller. Kachina Industrial… Read More →

Goodyear lands new $180M UPS facility

UPS announced plans today for a new $180 million package processing hub in Goodyear, near the Loop 303 Freeway and I-10, to increase its processing capacity for e-commerce. The phased hub construction modifies a 618,000-square-foot structure on 140 acres in the PV303 Development. A portion of the building is expected to begin operating later this year in… Read More →

Dexcom renovates warehouse into medical device manufacturing space

Skanska, one of the largest construction and development firms in the United States, is finishing construction on phase one of Dexcom’s facility located at 232 S. Dobson Road in Mesa. This 145,000-square-foot project is a build-out of an existing shell building. The first phase includes the renovation of a 60,000-square-foot industrial warehouse to medical device manufacturing space… Read More →

Pondering President Trump’s trade policy and impact on industrial real estate

President Donald Trump’s focus on curbing the trade deficit by bolstering U.S. exports and reducing imports could drive policy changes that impact industrial real estate markets throughout the U.S., Cushman & Wakefield reported in a logistics and industrial research briefing released today. However, the report concludes that a trade war with China or U.S. withdrawal from NAFTA… Read More →

Phoenix industrial report: total vacancy remains unchanged

Dexcom

The Phoenix industrial real estate market started the year with strong leasing activity, increasing development and steady rental rates. Despite 1.6 million square feet of positive absorption, new deliveries of over two million square feet caused vacancy to remain unchanged at 9.8 percent. Kidder Mathew, an independent commercial real estate firm, expects increased competition for space… Read More →

3-building project breaks ground after 30 years

Davis Enterprises – Investments & Development is a family-owned business with many investments and redevelopment projects throughout the Valley, including a five-acre site that has been in the family portfolio for more than 30 years near the I-17 at 2005, 2015 and 2025 W. Deer Valley Rd. While the site has been occupied by different… Read More →

Industrial & office steal spotlight from multifamily at 10th Annual IREM-CCIM Economic Forecast

While many turned their attention to Washington D.C. for the inauguration of President Donald Trump, the Valley’s heaviest hitters in commercial real estate joined forces at the 10th Annual IREM-CCIM Economic Forecast on Friday at the Arizona Biltmore. For the program, 21 of the Valley’s top commercial real estate leaders with 521-plus years of combined CRE… Read More →

Cushman & Wakefield expects hot economy in 2017

by in AZRE Magazine

A report released by Cushman & Wakefield anticipates the U.S. economy and property markets to be positioned to perform well in 2017, after a turbulent 2016. “Even before the election, the U.S. economic fundamentals were showing signs of heating up,”  said Kevin Thorpe, Cushman & Wakefield’s global chief economist. “We observed a big GDP number… Read More →

Single-tenant industrial property sells for $3.03M

industrial property
by in AZRE Magazine | Industrial

CBRE completed the $3.03 million sale of Turner Crossing at Southbank, a 20,103-square-foot single-tenant flex industrial property located at 3401 E. Harbour Dr. in Phoenix, Arizona. California-based Turner Real Estate Investments, sold the property to California-based Portex Partners. Kelly Betpolice and Peter Steigleder of Brookfield Partners represented the buyer. The seller was represented by Mike Parker, Evan… 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 →

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

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 →

Market shifts spur local company’s relocation

by in AZRE Magazine

Willie Itule Produce, Inc., a local family-owned and operated wholesale produce distributor, moved from the location it has known in Downtown Phoenix since 1979 for a bigger, better industrial space to facilitate its continued growth. The company’s original location on Jackson Street is situated in the heart of the historic Warehouse District. Once the hotspot… Read More →