Gila Springs Industrial Park, a five-building industrial complex located near Chandler Boulevard and Kyrene Road, has been sold for $10,069,910. Big Bird Industrial, a La Jolla-based investment firm has purchased the property as its third industrial asset in Metro Phoenix.
“This park offered the buyer a fully-leased asset within the popular East Valley market,” says Paul Sieczkowski with Colliers International in Arizona. “Located very close to a sizable Intel campus, this collection of industrial buildings is well situated for future appreciation as the area’s business community expands”
Big Bird Industrial purchased the campus from GBI Erie LLC, an Arizona corporation led by the Imdieke Family. Sieczkowski and Justin Sieczkowski of Colliers International in Arizona represented the seller in the transaction. Chris McClurg of Lee & Associates represented Bird Dog Industrial. The property sold for $98.79 per square foot at a 7.29% cap rate.
Gila Springs Industrial Park buildings are located at 5773 W. Erie, 5763 W. Erie, 5753 W. Erie, 481 N. Dean and 57240 W. Oakland in Chandler. The buildings, which were constructed between 1988 and 1997, contain a total of 101,934 square feet of space. The facilities are fully occupied by UCT, a subsidiary of Ultra Clean. The properties provide ample power for manufacturing. All besides the 5773 W. Erie structure are 100% air conditioned. Grade and truckwell loading are available, and between 10-25% of space is dedicated to office build-outs with one of the facilities offering clean room space.