Tag Archives: Will Strong

8313 Latham, WEB

Ryan West Business Park sells for $14.59M

Cassidy Turley announced today that a subsidiary of Cohen Asset Management purchased Ryan West Business Park, a ±242,863 square foot warehouse distribution building at 8313 Latham in Tolleson for $14,591,460 from EG Properties, LLC. Ryan Companies US, Inc’s (Ryan) Real Estate Management group was the asset manager for the seller and will continue to serve as property manager for the buyer. Will Strong, Mike Haenel and Andy Markham, SIOR of Cassidy Turley procured the investment sale transaction, bringing the buyer, Cohen, and the seller together.

“Phoenix’s industrial market continues to attract capital searching for assets with credit tenancy, modern features and a history of being institutionally managed and maintained. Ryan West Business Park fits that description,” according to Will Strong, Vice President with Cassidy Turley’s Industrial Services Group. “Located less than one quarter mile south of I-10, this asset’s location is in the heart of the Southwest Phoenix distribution market and will continue to benefit from strong local labor, improving market fundamentals, and access to the Southwestern U.S.”

Built in 2001 by Ryan, the project was named Ryan West Business Park. Shortly after completion, Ryan was awarded the NAIOP Arizona Industrial Building of the Year for the development which features tilt panel construction, high performance reflective glass, a 30-foot clear height, 59 front-loaded fully-gated and -secured docks/truck wells, 150 feet of truck maneuverability, 17,836 square feet of refrigerator/freezer space and was designed to accommodate future two-story uses.

“Having a strong credit tenant like Circle K in a portion of the building, the ability to lease the remaining 61,713 square feet and projected rental rate growth in this segment made this a strategic acquisition for the buyer,” said Strong.

This is the second acquisition Cassidy Turley has secured for Cohen in 2014 and will be the fifth industrial building purchase in the last seven months by their firm. Cassidy Turley represented them in May for the $29 million purchase of a three-property industrial portfolio, totaling 174,644 square feet and 12.31-acres, from Alliance Commercial Properties.

Cassidy Turley will retain the leasing assignment for the remaining space at the Latham property.

3701 E  University Drive

Cohen purchases industrial portfolio for $29M

Cassidy Turley announced today that Cohen Asset Management purchased a three-property, high-tech industrial portfolio in Phoenix for $29 million from Alliance Commercial Partners (ACP). Will Strong, Mike Haenel and Andy Markham, SIOR of Cassidy Turley procured the investment sale transaction, bringing the buyer, Cohen, and the seller, ACP together.

The portfolio includes three 100% NNN leased state-of-the-art, single tenant high-tech industrial assets totaling ±174,644 square feet and 12.31 acres. The buildings are located at 3601 and 3701 E. University Dr. in Phoenix and 405 W. Geneva Dr. in Tempe, Ariz. Microsemi occupies the 73,729-square-foot building at 3601 E. University, and FlipChip International occupies the adjacent 52,027-square-foot building at 3701 E. University. The 48,908-square-foot Tempe property is occupied by MedPlast. The institutionally maintained and managed three property portfolio of buildings was built between 1996 and 1998.

“All three properties are highly functional, leased long term to quality tenants and are strategically located,” Strong said.

“The high-tech nature of the properties offers exceptional features that include heavy power, abundant parking and the ability for tenants to grow within them. In addition, these assets have a Class A image, are close to an abundance of retail amenities and benefit from an extensive labor pool.”

All three properties are located in mature, established industrial areas, with the two University buildings located in Southbank Business Park that has direct access to Sky Harbor International Airport, Interstate 10, Interstate 17 and Arizona SR-143. The Geneva property is located in the Broadway Industrial Park and has excellent access to I-10 and Arizona SR-143.

Will Strong

Will Strong Joins Cassidy Turley's Industrial Group

 

Cassidy Turley announced that Will Strong has joined the firm’s Arizona office as a vice president in the Industrial Group.

Strong will be combining his brokerage practice with one of the companies top producing Industrial teams, Mike Haenel and Andy Markham, SIOR. The new team will focus on all aspects of industrial brokerage services including development, project leasing and tenant representation throughout Metro Phoenix.

“Will has made a big impact in the market,” said Bryon R. Carney, President & Managing Principal for Cassidy Turley in Arizona. “He is an accomplished professional with an excellent reputation in the commercial real estate industry. We are very happy to welcome him to our office.”

Said Strong: “I am excited to join Cassidy Turley and team up with Mike Haenel and Andy Markham. I know that I am part of a firm whose focus is on the client and providing them with best-in- class services.”

Strong has more than 5 years of brokerage experience, all with Cushman & Wakefield, and in the first few years of his career became the C&W, NAIOP and Arizona Commercial Real Estate Magazine’s Rookie of the Year.

An active member of NAIOP, he serves on the group’s Membership and Developing Leaders Steering Committees. He is a mentor with Arizona Quest for Kids, which helps prepare underprivileged students for success in higher education. He is a graduate of Arizona State University.

 

2235 S. Central Phoenix

Cushman & Wakefield Completes Sale Of 80,000 SF Industrial Facility In Phoenix

APS BioGroup acquired 2235 S. Central Ave. in Phoenix.

Cushman & Wakefield industrial broker Will Strong arranged the acquisition on behalf of the buyer. The seller, The Peiterson Limited Partnership of Las Vegas, was represented in-house by Loren Peiterson.

For APS BioGroup, the acquisition marks a relocation of its headquarters and expansion of its operations within Phoenix. APS BioGroup is a manufacturer of health products and the world’s largest producer of colostrum products.

“As the company continues to grow, APS BioGroup required a substantial greater amount of space for its administrative and manufacturing operations,” Strong said. “With this transaction, the company went from leasing a 58,000 SF space to owning its own 80,000 SF facility – relocating this Arizona based company’s headquarters. Prior to moving into its new headquarters building, APS BioGroup plans to construct a 8,000 SF addition to the building. So, the total size will be 88,000 SF.

“The site selection process encompassed nearly a dozen buildings along the I-10 corridor in Phoenix,” said Strong. “APS BioGroup ultimately selected this building because of its functionality, corporate image and location.”

The company’s new home base is just off I-17 and Central Avenue in the heart of Phoenix’s industrial market. Situated on 4.5 acres, “the building is accessible to every major freeway, has great visibility, and is next to Phoenix Sky Harbor International Airport,” Strong said.

The timing of the acquisition was fortuitous.

“There are not as many buildings available now as before,” said Strong. “Activity has been increasing, the market has been getting tighter, and this was an opportunity to purchase a great building at a good price as conditions start to improve.”

Cushman & Wakefield’s second quarter industrial market statistics show investment sales transactions currently 48% higher with 53.7% more square footage compared to a year ago. Leasing activity has rebounded as well, with the market showing three times the absorption in the second quarter of 2012 over the first quarter.

“User and investment sales volume has been consistently growing through the first two quarters of the year,” Strong said.