Dalfen Industrial has acquired 3405 Logistics at Sky Harbor, a 109,699-square-foot industrial property at 3405 S 5th Street, a prime location in Phoenix, AZ. The transaction was sourced through Cushman & Wakefield and was fully leased at the time of acquisition to Raytheon’s subsidiary, Collins Aerospace, a Fortune 100 company, operating in the aerospace industry. The sale price was $18,694,000, according to Vizzda.
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Strategically positioned less than 2.5 miles from Phoenix Sky Harbor International Airport and downtown Phoenix, 3405 Logistics at Sky Harbor is located in one of the city’s most sought-after submarkets. The property offers immediate access to major transportation routes, including I-17 and I-10, and is in proximity to top industry players such as Amazon, Aramark, and many others.
“This acquisition underscores Dalfen Industrial’s strategy to expand our footprint in Phoenix’s best performing submarkets,” said Rich Weiss, Head of Dalfen’s West Region. “With the property fully leased to a credit tenant at significantly below-market rents, we’re positioned for strong cash flow in the short term, with substantial upside at lease roll over. We are committed to continuing to acquire and develop last-mile logistics properties in this high-demand market.”
With this latest acquisition, Dalfen Industrial now owns and operates 1.8 million square feet in the Phoenix area. The company remains focused on expanding its presence in the thriving Phoenix market, known for its robust industrial demand and proximity to key transportation hubs.
