ViaWest Group announced today that is has purchased 10 acres of land near Sky Harbor International Airport for $4,575,000. The parcel is located at the northwest corner of S. 48th St and the San Fran Canal and is in a Federal Qualified Opportunity Zone. This is ViaWest Group’s third OZ purchase in the last two years and the company continues to pursue additional industrial, office, multifamily, and land deals in the Southwest U.S.
ViaWest plans to build a class A industrial building on the land, Airport48 Industrial. Construction is set to begin Q3 of 2021 with a delivery of Q2 2022. There are currently two prominent, freeway-facing billboards that will remain onsite. The building will be approximately 146,500 sf, have an internal clear height of 28’, onsite trailer storage capacity, dock-high and grade level loading, and will have high divisibility optionality.
READ ALSO: Here are the tax benefits associated with opportunity zones
“There is very limited developable land left in this submarket so we are very excited to be building another greatly sought after infill industrial development with high visibility on the SR 143,” said Alex Boles, ViaWest Group’s director of investments and development.
Isy Sonabend and Drew Eisen with NAI Horizon represented the seller and will handle marketing and leasing of the project.
Airport48 Industrial is located adjacent to the I-10 freeway and State Route 143, allowing for efficient distribution to all areas of the Valley, and easy access for regional distribution.
