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January 31, 2023
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Stos Partners Pays $10.9 Mil for 94k sf Industrial Building in Phoenix

1/13/23

Stos Partners paid $10.9 mil for a 94.2k sf ($116/sf), freestanding industrial building in Phoenix. The property is situated on 4.2 acres at 1002 S. 54th Ave, ideally located within a 20-minute drive of all parts of the Phoenix area.

Built in 1992, the subject property features 83.9k sf of warehouse and distribution space and approximately 7k sf of office space. The building offers 25 feet of warehouse clearance, a brand-new roof, 17 dock-high doors, and two drive-in ground-level doors. Additional amenities include HVAC in the warehouse and an EVAP cooling system throughout the warehouse area, both powered by more than 2,500 amps of 277/440-volt power.

Stos is implementing a variety of upgrades to prepare the space for lease, including parking lot and yard repair and resurfacing; exterior and interior painting, landscape, and window washing; warehouse cleanup including white scrim installation; HVAC repair as needed; dock-door repair and replacement; and speculative office reconstruction and enhancement.

The property was sold by a national window manufacturer and distributor that owned and occupied the now-vacant building. Anna Josephson and Bo Mills of KBC Advisors represented Stos in the transaction. Phil Haenel, Mike Haenel, and Andy Markham of Cushman & Wakefield are marketing the asset for lease on behalf of Stos.




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