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3/14/19
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AZ|60 Industrial, a two-building, 225.6k sf industrial asset in Gilbert, AZ, was acquired for $27 mil ($120/sf) by U.S. Trust, Bank of America Private Wealth Management, on behalf of a family office. The brand new core, state-of-the-art industrial park, situated in the heart of the Southeast Valley, was sold by Conor Commercial Real Estate and Globe Corporation.
Situated on 16 acres at 1343 North Colorado St, AZ|60 Industrial features 30’ clear height, ESFR sprinklers, 100% concrete truck courts, ample dock and grade level loading. It is positioned as a market leader in amenities sought after by today’s tenants.
Currently 92% leased, the property can accommodate up to 13 users with suite sizes ranging from 9.4k sf to a full building user at 120.7k sf. Steve Larsen and Bill Honsaker with JLL are the leasing agents on the property and will continue to lease the property going forward.
Will Strong led the Cushman & Wakefield Capital Markets team that represented the seller. According to Strong, AZ|60 Industrial sold for a record breaking price per square foot and cap rate.
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