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8/01/22
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Westech Business Center I & II, a seven-building 225.3k sf light industrial complex in Phoenix, was acquired by Portland, OR-based Schnitzer Properties, formerly Harsch Investment Properties. The property was sold by LBA Logistics.
The multi-tenant property is located in the infill Sky Harbor Airport submarket and was 99% leased to 51 tenants at sale. Westech Business Center I & II features functional divisibility with a variety of smaller bay sizes, freeway visibility, excellent parking, ample loading, and fully built out offices.
Will Strong, Jeff Chiate, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield represented the seller in the deal.
“Westech Business Center is a high quality, highly functional light industrial portfolio in a sought-after industrial area and consists of a strong, diverse tenant roster providing stable cash flow,” said Strong. “The property offers a very strategic location at the Interstate 10 and Highway 134 intersection and is a few minutes from the Phoenix Sky Harbor International Airport. It is also very well positioned to capitalize on a tight, thriving market.”
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