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June 15, 2024
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CBRE Investment Management Acquires 230k sf Phoenix Industrial Asset


CBRE Investment Management purchased Freeway Logistics Center, a three-building, 230.4k sf Class A industrial complex situated on 19 acres in Phoenix. Built in 2017, the multi-tenant complex that provides frontage along Interstate 10 in the highly sought-after Sky Harbor Airport industrial submarket.

Freeway Logistics Center is located at 3545, 3555 and 3575 S. 28th St, directly off I-10 and close to I-17 as well as Sky Harbor International Airport. Several other freeway routes are also nearby. The property features Class A design attributes including 30’ clear heights, A-2 (heavy industrial) zoning, excellent loading with concrete truck courts, additional yard (2.1 acres), ESFR sprinkler systems, trailer parking, and a fully secured and gated property.

Will Strong, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group-Mountain West represented the seller, an affiliate of Cohen Asset Management Inc. The price was not disclosed.

“Freeway Logistics Center is a first-class, core industrial park that is highly functional, extremely well located, and perfectly positioned to capitalize on a very tight market that maintains extraordinary industrial fundamentals driven by robust net growth,” said Strong. “Adding to its attractiveness, the asset is 100% leased to four tenants including multiple international credit tenants.”

Strong continued, “A lack of available land and space options, coupled with escalating land and construction pricing, has created major constraints in the Sky Harbor Airport submarket of Metro Phoenix. An infill location like this is very difficult to replicate in today’s market.”

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