Cushman & Wakefield announced the firm has advised the sale of Parc Germann, a recently constructed industrial project in Chandler, Arizona. The asset comprises two state-of-the-art Class A industrial buildings, totaling 224,471 square feet (SF) and was 100% leased to three tenants at the time of the sale. Parc Germann was one of three industrial offerings being concurrently sold by the owner. Libitzky Property Companies, based in Emeryville, California, acquired Parc Germann for an undisclosed amount.
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Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt, and Callahan Conway of the firm’s National Industrial Advisory Group – Mountain West team represented the seller in the disposition.
“The sale of Parc Germann reflects a continued trend among investors seeking to acquire high-quality industrial properties strategically located in the Greater Phoenix market,” said Will Strong. “An institutional quality asset supported by three tenants across diverse industries and with ample term left, Parc Germann is well stabilized into the foreseeable future, providing a strong addition to the buyer’s Phoenix Metro portfolio.”
Located at 2215 and 2225 East Germann Road and situated on 16 acres, Parc Germann was built in 2020 and consists of two Class A industrial warehouse buildings. 2215 E Germann (Building A) is 92,261 SF and 2225 East Germann (Building B) is 132,210 SF. The buildings provide great functionality with clear heights of 28’, a combined 62 dock doors and 14 drive-in doors, 262 parking spaces, and great ingress/egress.
“Parc Germann is located in the Chandler Airpark submarket, an area driven by strong tenant demand,” said Molly Hunt. “Chandler’s central location and excellent access to transportation make it a preferred location for industrial tenants.”
With immediate access to Loop 202 and directly backing Chandler Municipal Airport, Parc Germann is exceptionally well-located, offering superior access to all of Metro Phoenix. Additionally, the location is within 15 minutes of Intel’s Chandler Campus, Arizona’s largest technology developer and manufacturer.
