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April 5, 2020
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Phoenix Industrial Property Goes for $140/sf

3/04/20

A fully-leased, 82.7k sf industrial property in Phoenix traded hands for $11.55 mil, or $140/sf. The property is located at 5150 S. 48th St, a few blocks from I-10 and Hwys 60 and 143.

The building was constructed as a build-to-suit for Industrial Metal Supply Company, a regional steel and aluminum warehouse company. This is their only warehouse in the Phoenix Metropolitan area and services the entire state of Arizona.

Lee Principal Scott Smith represented the seller of the property, The Robert Wells Family Trust of Newport Beach. Allen Lowe and Jeff Conrad with Lee & Associates represented the buyers, Larry Twomey, Peter Ezell and David Balfour of Investment Property Exchange Services of Marina del Rey.






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