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BH Properties Buys Shasta Beverages Warehouse in Phoenix

9/08/14

BH Properties has purchased the Shasta Beverages Inc 62.8k sf warehouse facility in Phoenix for $1.9 mil ($30/sf). The all-cash deal closed in 18 days.

The property is located at 301 S. 29th St, near the Phoenix Sky Harbor International Airport. The two-story warehouse features three car spots for rail service and seven grade-level truck doors with triple -truckwell and dock levelers.

“This property presented a prime investment opportunity as we are actively pursuing properties in Arizona to grow our industrial portfolio,” said Steve Jaffe, executive vice president and general counsel for BH Properties. “Located in a high-traffic location, the warehouse is ideal for any number of businesses looking to expand in the Phoenix area and can accommodate a variety of uses.”

The demand for warehouse facilities continues to increase in order to meet the needs of not only online retailers, but also call centers and non-traditional tenants, looking for space near high-traffic transportation hubs. Reports indicate that vacancy rates have decreased in the second-quarter, due to a surge in net absorption across the Greater Phoenix area.

Kirk Jensen, executive vice president for DAUM Commercial Real Estate Services, represented BH Properties and Shasta Beverages in the transaction.








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