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April 13, 2021
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CAVCO Industries Buys 118k sf Facility in Glendale, AZ

3/22/21

In the latest industrial deal news out of Arizona, CAVCO Industries purchased a 118.2k sf, Class A facility in Glendale for $15 mil ($127/sf). The asset was sold by Trammell Crow Company (TCC) and is within the firm’s recently delivered CAVCO Industries business park.

Located at 10250 West Montebello Ave, the asset – known as Building D – features 32’ clear height, a dedicated truck court with a yard area for trailer storage, and an ESFR fire safety system. The property is part of a four-building, 356k sf business park that was completed in September 2020.

TCC is seeking users for the limited remaining space at Park Aldea, which includes a 76.3k sf building and two move-in ready spec suites between 14k sf and 21k sf. TCC is planning to break ground later this year on Phase 2 of the Park Aldea business park, which will include an additional 500k sf of space delivering in the first half of 2022.

Park Aldea is located along the Loop 101 Fwy, situated off a full diamond interchange at the 101 and Bethany Home Rd. The location provides access to a deep, diverse labor pool and is 20 minutes from Downtown Phoenix and Sky Harbor International Airport.

“There is a huge demand for the type of high-end industrial and logistic space in the Phoenix market that Park Aldea offers, which is what we believe made Building D such an attractive investment,” said Ryan Norris, Vice President for TCC Phoenix. “We expect user demand for this type of product to grow this year, especially as consumers continue to rely more on ecommerce. We look forward to breaking ground this summer on Phase 2 of the business park.”

Cooper Fratt, John Werstler, Tanner Ferrandi and Mitchell Stravitz with CBRE represented TCC in the sale. Matt Frederick, Matt Hobaica and Kurt Saulnier of Lee and Associates repped the buyer.



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