The Honeywell Aerospace Glendale DSES Campus at 19019 N 59th Ave. in Glendale, AZ has been sold to B.H. Properties of Los Angeles. The nationally recognized commercial real estate investment firm has added this Fortune 100 company occupied facility to its portfolio of 90+ properties in 18 states.
“The Honeywell facility is a great example of our long term commitment to the greater Phoenix market. This facility is critically important not only to Honeywell but also to Arizona, as aerospace and defense manufacturing is the fourth largest employment sector in the state,” says Andrew Van Tuyle, senior managing director of investments for B. H. Properties. “This acquisition offered us the opportunity to purchase a mission-critical facility that has not changed hands in 30 years and expand our growing presence in the West with a signature asset.”
The Honeywell Aerospace Glendale DSES Campus was constructed in 1986 and contains approximately 252,300 square feet of space. The campus includes offices, clean rooms, R&D labs and assembly areas on approximately 45 acres in Glendale, AZ. The property is 100 percent occupied by Honeywell International Inc. and is located just south of the Loop 101 freeway in the heart of master-planned Arrowhead Ranch. The property is situated just south of the Midwestern University medical school campus and is surrounded by outstanding residential neighborhoods. Honeywell International recently signed a new lease that will extend the company’s occupancy until July 2024.
The strategic, in-fill location offers a desirable variety of area amenities, proximity to a deep base of labor, as well as freeway accessibility. Very few parcels in the area remain available for future development. Glendale and the Northwest Valley of Greater Phoenix have evolved as a hub for large corporate campuses and major employers looking for skilled workers. There are 22 businesses within five miles of the property that occupy between 100,000 and 1.2 million square feet of space per company. These include Honeywell, USAA and American Express.
Mindy Korth and Kirk Kuller of Colliers International in Arizona negotiated the sale transaction.