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12/21/20
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An affiliate of Boston-based STAG Industrial Inc paid $14.25 mil for a 104.4k sf ($136.50/sf), fully leased single-tenant light industrial building in Chandler, AZ. The property was sold by Cohen Asset Management Inc.
The property is NNN-leased to Phoenix Packaging Operations LLC, a subsidiary of Grupo Phoenix. Grupo has been one of the leading manufacturers of injection-molded plastic packaging, thermoformed products, foil lidding and extruded barrier packaging in Latin America for the last 20 years.
Originally constructed in 2000, the tenant has made significant improvements to the building in both 2011 and 2017, including installing two additional cranes. Additional property features are a 28-foot clear height, ESFR sprinklers, five dock-high doors, four grade-level doors, low office finish and ample parking.
Situated on 8.51 acres at 464 E. Chilton Dr, the building is between U.S. 60, State Route 87, Loop 101 and Loop 202 Freeways, providing easy access to the Southwest Valley, the entire metro Phoenix area and the greater California region. It is also within the Chandler/Mesa Industrial submarket, a central industrial hub proximate to two area airports, and within the Chandler Enterprise Zone, which allows qualified businesses tax benefits.
Mark Detmer, Ryan Sitov, Steve Larsen and Bill Honsaker with JLL Capital Markets team represented the seller in the transaction.
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