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6/10/16
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A New York Life Insurance Company entity has closed on the acquisition of Phase 1 of 10 West Logistics Center in Phoenix. The sellers are Phoenix-based Wentworth Property Company and Crow Holdings Capital of Dallas, joint venture partners in the development.
Located on 42 acres at 6200 W. Van Buren St, on the northwest corner of 59th Ave and Van Buren St, Phase 1 at 10 West Logistics Center is a 659.6k sf, Class A distribution facility centered in the heart of Southwest Phoenix. The high image facility offers ESFR sprinklers, energy efficient motion sensor lighting, excellent dock-high loading, and an abundance of trailer or car parking. With immediate access to the I-10, Loop 101, I-17 and US-60 Freeways this Class A distribution center has been built to meet high-level corporate tenant standards.
The building is part of 10 West Logistics Center, a two parcel, 80-acre master planned bulk distribution business park. It is located in a City of Phoenix approved Foreign Trade Zone (FTZ). At build-out, the park will consist of over 1.3 msf of warehouse/distribution space.
WPC and Crow Holdings will retain the Phase 2 parcel at the site, with plans to either do a build-to-suit building or they may build a 568.3k sf bulk distribution warehouse.
Andy Markham, Will Strong, Mike Haenel, and Phil Haenel of Cushman & Wakefield were involved in brokering the sale.
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