JLL Capital Markets announced today that it arranged the sale of an infill Phoenix industrial portfolio, which includes six industrial buildings totaling 586,915 square feet in the Phoenix metro. Positioned in prime infill locations within the greater Phoenix MSA, the properties represent a strategic addition to ViaWest Group’s expansive portfolio. This acquisition brings ViaWest Group’s owned and managed properties to over 13 million square feet across Arizona, Denver, Utah, Nevada and Southern California.
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JLL represented the seller and procured the buyers, ViaWest Group and Walton Street Capital.
Among the properties acquired are four industrial buildings in Tempe: 6718 S. Harl Ave. (149,755 SF), 9160 S. McKemy St. (106,152 SF), 9185 S. Farmer Ave. (47,165 SF) and 9245 S. Farmer Ave. (47,165 SF). Additionally, the portfolio includes an industrial building in the Scottsdale Airpark at 7400 E. Tierra Buena Ln. (66,053 SF) and one in the Southwest Valley at 125 N. 67th Ave. (170,625 SF).
“We are excited to grow our industrial portfolio with such high-quality infill product – we find this segment of the market particularly attractive given the supply and demand dynamics in these strategic micro locations,” said Danny Swancey, Partner at ViaWest Group.
The JLL Capital Markets Investment Sales team was led by Mark Detmer, Greer Oliver, Ryan Sitov and Connor Nebeker-Hay. The portfolio is currently 100% leased, with market leasing managed by the JLL team of Steve Larsen, Pat Harlan, Kyle Westfall, Jason Moore and Steve Sayre. Additionally, JLL assisted with the procurement of the financing led by Kevin MacKenzie, Jason Carlos and Jarrod Howard.
“We are grateful to the seller for trusting us with the disposition of their infill Phoenix portfolio. Having first sold the assets to the seller over five years ago, JLL again sold the assets on behalf of the seller’s current fund,” said Detmer. “We welcomed the full circle opportunity to act as trusted advisors from acquisition through disposition for these irreplaceable infill Phoenix assets. ViaWest and Walton Street were exceptional partners throughout the process, resulting in a smooth due diligence and straightforward closing, which had a positive outcome for both the buyer and seller.”
“ViaWest Group and Walton Street Capital’s acquisition of this infill portfolio strengthens their industrial presence in one of the nation’s top-performing markets. The portfolio provides them an excellent value-add opportunity given the WALT and in-place rents. Additionally, the excellent freeway locations further enhance their investment,” added Oliver.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
