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5/22/17
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Young’s Market Company of Arizona recently acquired a 248.9k sf cold Storage industrial building in Phoenix for $20.5 mil, or $82/sf. Built in 1999 and renovated in 2003, the property is located 402 S. 54th Place.
With 26 dock-high loading doors and 44 ft. clear ceiling height, the distribution asset also offers rail service by Union Pacific double-rail spur line and rail dock high loading on the south side of the building. Sitting on 18.43 acres, the property has excellent freeway accessibility with 202 freeway frontage/visibility and signage.
Andy Markham, SIOR, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented Young’s Market Company of Arizona, a family-owned distributor of wines, spirits and select beverages. The team represented Young’s in previous site transactions, including the lease at 402 S. 54th Place in 2014 and a prior distribution space at 200 S. 49th Avenue. The seller was Los Angeles-based Barley Equites V, LLC.
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