CBRE announced the sale of a 28.4-acre parcel at 1110 N. 52nd Street in Phoenix, formerly a Motorola semiconductor manufacturing facility, to Baker Development Corporation (BDC).
CBRE’s John Werstler, Cooper Fratt and Tanner Ferrandi represented BDC.
The property located just north of Sky Harbor International Airport on Loop 202 at the 52nd Street exit, represents one of the few new Class A industrial projects in northeast Phoenix.
Baker Development plans to build 800,000 square feet of data center space or a 400,000 square-foot Class A industrial project, to be completed in 2022.
“Being located adjacent to SRP’s Pico substation makes this project extremely attractive to Data Center users, said Werstler. “In addition, the desirable northeast Phoenix demographics, high demand for Class A inventory, immediate access to the full interchange at Loop 202 & 52nd Street and high-brand visibility to the expressway makes this location extraordinary.”
The CBRE team also represented the seller, Reich Brothers.
A recent survey of commercial real estate investors ranked Phoenix as a top-10 target among America’s metros. The Sun Belt market jumped five spots to No. 4 in CBRE’s 2021 Americas Investor Intentions Survey.