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6/19/15
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The Realty Associates Fund X, L.P. purchased the White Star Portfolio, nine industrial buildings totaling 460.7k sf situated near Phoenix Sky Harbor International Airport and the city’s interstate highway systems. The assets were sold by White Star LLC for $42.2 mil ($92/sf).
The White Star Portfolio contains institutionally maintained and managed properties, including:
• White Star Corporate Center (2110 – 2140, S. 7th Ave., Phoenix)
• Baseline Foothills (4401 – 4409 E. Baseline Rd., Phoenix)
• 3710 E. University Dr., Phoenix
• 2501 W. Phelps Rd., Phoenix
Managing Directors Mark Detmer and Bo Mills of JLL represented the seller in the transaction.
“There is a limited supply of institutional-quality industrial product, so investors are aggressively chasing properties that provide barriers to entry, flexibility and are located along major transit routes,” said Detmer. “This portfolio features high quality buildings with credit tenants, further driving the properties’ value.”
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