On behalf of ViaWest Group, the Phoenix office of JLL has completed the sale of a 13,547-square-foot industrial building in Gilbert, Arizona to an owner-user buyer. Part of a six-building industrial portfolio acquired by ViaWest last year, the $3,589,955 sale highlights a demand among operators to own, versus lease, space.
DEEPER DIVE: 10 amazing rooftop bars with a view in Arizona
INDUSTRY INSIGHTS: Want more news like this? Get our free newsletter here
Located at 2020 W. Guadalupe Rd., between Country Club Road and McQueen Drive, the flex industrial building includes approximately 9,500 square feet of office space and a 4,000-square-foot evaporative cooled warehouse with grade-level loading and 16’ clear height. It sits in the southwestern portion of Gilbert, Arizona, less than two miles from the US 60 Superstition Freeway.
The building is part of a 428,427-square-foot, six-building industrial portfolio purchased by ViaWest in February 2024. The portfolio acquisition was part of a strategic real estate investment in metro Phoenix’s East Valley, known for its quality of life and vigorous expansion in the areas of technology, advanced manufacturing and aerospace.
“This sale allows a successful owner-user to continue their growth trajectory in the East Valley, just as we have,” said ViaWest Group Senior Vice President Alex Hondros. “Identifying the immediate need for an owner-user to purchase a property allowed us to effectuate an opportunistic return to our investors by strategically exiting a piece of our portfolio.”
JLL Vice Chairman Steve Larsen and Managing Director Jason Moore represented ViaWest Group in the 2020 W. Guadalupe building sale. Lee & Associates Principal Conner Lee represented the buyer, BAM Elite LLC.
“Stand-alone flex buildings in the sub-50,000-square-foot category are in short supply in metro Phoenix,” said Moore. “We originally brought this ViaWest property to market as a lease, but interest unfailingly trended toward buying rather than leasing. This deal involved two parties who see the long-term value in the East Valley and want to be a part of it.”
The balance of the ViaWest East Valley portfolio is nearly 100% leased at five properties: 955, 1171 and 1191 N. Fiesta Blvd., and 2075 and 2135 W. Obispo Ave. Just one of the buildings (2135 W. Obispo Ave.) has 69,000 square feet available and is for sale or lease. Larsen and Moore of JLL are the buildings’ exclusive brokers.
In Phoenix, JLL is a market leader employing more than 600 of the region’s most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process. In 2024, the Phoenix team completed almost 50.5 million square feet in lease and sale transactions, with a total transaction volume of more than $2.8 billion. It managed almost 18 million square feet of space and directed 36 projects through Project and Development Services.
