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January 21, 2020
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Two Phoenix Industrial Properties Acquired for $25 Mil

1/08/20

Phoenix-based Harrison Properties closed out 2019 with the purchase of two North Phoenix industrial parks located in the I-17 Corridor for a total of $25 mil. The two multi-tenant, industrial business parks, Gateway Corporate Park and Gateway Metro Park, total 309.6k sf ($81/sf). They were 74% occupied at the time of sale and are located a half-mile from a full-diamond interchange at the I-17.

Gateway Metro Park, Phoenix
Gateway Metro Park, Phoenix
Gateway Corporate Park, located at 2432 W. Peoria Ave, is a four-building industrial park totaling 110k sf. The project features flexible suite configurations with 13’-18’ clear height, 80’-130’ bay depths and 400 ft of frontage on Peoria Ave. Built in 1987, the property has an upscale contemporary architectural design.

Gateway Metro Park, totaling 199.6k sf spread across 18 buildings at 2320 W. Peoria Ave, features 14’-16’ clear height, 690 ft of frontage on Peoria Ave and sits on 15.02 acres. Built in 1983 and 1984, the buildings feature tilt-up concrete construction and attractive glass lines, ensuring a modern, upscale tech setting.

Bob Buckley, Tracy Cartledge and Steve Lindley of Cushman & Wakefield’s Phoenix represented the seller, San Francisco-based Stockbridge Capital Group, in the transaction.




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