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June 24, 2024
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EverWest Advisors Buys Recently Completed 113k sf Industrial Facility in Chandler, AZ

11/02/21

A new, 113.1k sf freestanding industrial distribution building on approximately 8.7 acres in Chandler, AZ traded hands in a $20 mil ($177/sf) deal. The recently completed, Class A facility was purchased by Denver-headquartered EverWest Advisors, an institutional real estate investment management firm.

The vacant property was developed and sold by Kitchell Development Company, which acquired the land in August 2020. Located at 800 E Germann, at the northwest corner of Germann and McQueen roads, the property features a 1.5-acre fenced and secured storage yard area for additional parking, modern functionality including 30-foot clearance and immediate access to the Loop 202 freeway.

“The project timeline – from design and financing to construction and disposition – was one of the fastest in our company’s 70-plus years,” said Kitchell Development Company Senior Director of Development, Kevin Miller. “It’s indicative of the robust market and appeal of quality industrial product.”

Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay with Cushman & Wakefield represented the seller in the transaction. Andrew Brigham, Evan Koplan, and Serena Wedlich with CBRE provided leasing advisory.

“This asset provided a great opportunity to acquire a new, modern Class A industrial facility in the Phoenix Metro market,” said Strong. “Investors remain drawn to strong locations throughout Phoenix, where the market is flourishing with exceptional occupancy growth and demand. The fact this property sold fully vacant speaks to the demand and bullishness of this market.”





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