industrial Archives

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

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 →

Market shifts spur local company’s relocation

Photo courtesy of Willie Itule Produce
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 →

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 →

Economic expansion resilient, Cushman & Wakefield forcecast says

economy
by in AZRE Magazine

Global commercial real estate services firm Cushman & Wakefield Monday released its latest U.S. Macro Forecast, confirming that the economy weathered rough headwinds in the first half of 2016. The key demand drivers that support property markets—consumer confidence, job growth, low interest rates and consumer spending—all remain firmly intact. “There is no doubt that slowing global demand… Read More →

Tucson mid-year reports show market health

Photo: neilld / 123RF Stock Photo
by in AZRE Magazine | Blogs | Brokerage

According to recently released reports from Cushman & Wakefield | PICOR, the Tucson commercial real estate market continues to see widespread activity across all markets at various levels. These quarter two reports analyze business in the multifamily, industrial, retail and office markets. The cliff notes version of the Q2 reports from Cushman & Wakefield |… Read More →

Commercial Properties Inc. reports on Q2 market activity

Commercial Properties Inc.
by in AZRE Magazine | Brokerage

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, released a brief overview of Phoenix’s commercial real estate activity, and reports on the top five transactions in June from second quarter. Jeff Hays, senior vice president of Corporate Services commented on the Phoenix industrial sector”  “In general, the industrial market continues to improve in… Read More →

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 →

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 →

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 →

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 →

Developer announces 222K SF Phoenix industrial project

Phoenix Warehouse
by in AZRE Magazine | Industrial | New to Market

Liberty Property Trust Thursday announced that it will break ground on its first building this spring at Liberty Logistics Center II, a new 73-acre industrial park located at the corner of 71st Avenue and Buckeye Road in Phoenix. The 222,910 square foot distribution facility is the first of the 1.5 million square feet of multi-tenant industrial… Read More →