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December 4, 2020
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Renovated Industrial Facility in Phoenix Trades

11/06/20

A 110.7k sf industrial property in the highly sought-after Phoenix Sky Harbor submarket was acquired by a global real estate investment advisor. The price was not given out.

Located at 225 S. 51st St, the property is just minutes from Sky Harbor International Airport with immediate access to local freeways. High-quality corporate neighbors include Amazon, Honeywell International, Inc., Boeing and Ferguson Enterprises.

The property was sold by CapRock Partners, who acquired the asset in 2017 in an off-market transaction. Since then, extensive capital renovations and improvements were made to elevate the asset to a Class A status. This included a new storefront, windows and landscaping, along with upgrading the 30-foot clear dock-high building with new ESFR sprinklers.

In addition, the yard area was reconfigured to create a fully secured truck court with additional trailer parking stalls. The renovated building features 2k sf of high-image office with Loop 202 freeway frontage, 22 dock-high doors and LED warehouse lights.

Will Strong of Cushman & Wakefield represented the seller in the deal. The buyer represented itself.





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