24.48 acres of land in Tolleson sells for $6.4M
An entity traced to Trammell Crow, one of the nation’s largest commercial real estate developers and investors, bought 24.48 acres of land in Tolleson for $6,398,566.14, according to the commercial real estate tracking website Vizzda. The seller was EJM Development Co.
The land is located at the southeast corner of North 107th Avenue and West Van Buren Street.
The Phoenix Business Unit of Trammell Crow Company, along with capital partner Clarion Partners, LLC, acquired the 25-acre site for the development of Tolleson 107 Logistics Center, a 332,075-square-foot logistics facility that will include 4.6 acres dedicated to retail.
Located in Tolleson, Arizona, the site sits at the Southeast corner of 107th Avenue and Van Buren Street and is located one mile from TCC’s Cowden Logistics Center development, which is currently under construction. The groundbreaking for the new Class A facility is slated for April 2021 and the building will be ready for tenant occupancy by year-end.
“Tolleson 107 is a strategic addition to our expanding logistics portfolio in Metro Phoenix and will complement our Cowden Logistics Center facility that is currently under construction in the immediate area,” said Cullen Mahoney of TCC’s Phoenix Business Unit. “We are appreciative of our long-standing partnership with the City of Tolleson and look forward to advancing this project.”
Phil Haenel, Andy Markham, and Mike Haenel of Cushman and Wakefield are handling the leasing assignment. The project is being designed by Butler Design Group.
“The TCC team showed creativity and persistence in executing the acquisition of this site and has devised a solid plan for a best-in-class logistics facility in the heart of Southwest Phoenix,” said Phil Haenel.
Andy Markham continued, “We have seen consistent user demand for this type of Class A product and are thankful to be involved in this special project with TCC and Clarion Partners.”
Tolleson 107 Logistics Center will feature 36’ clear height, concrete truck courts, 4 points of access, 52’ x 52’ column spacing with 60’ speed bays, 266 car parking stalls, 54 trailer parking stalls, and an ESFR sprinkler system. The site is situated just off the Interstate 10 and Loop 101 Freeways, providing strong local and regional access.