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ViaWest Group Acquires 428k sf AZ Industrial Portfolio

2/08/24

ViaWest Group has completed the acquisition of a 428.4k sf industrial portfolio totaling 428,427 square feet in Gilbert, AZ. With average rents currently positioned 30% below market rates and an average of three years of remaining lease term across the portfolio, the acquisition presents a compelling mark-to-market opportunity in a highly sought-after East Valley Phoenix location.

The portfolio is 98% occupied and spans 26.87 acres. It comprises six buildings housing 11 tenants. Noteworthy features of the properties include clear heights ranging from 15 to 30 feet, a total of 64 dock-high doors, 23 grade-level doors and 639 car parking spaces.

955 N Fiesta Blvd, Gilbert, AZ
955 N Fiesta Blvd, Gilbert, AZ
The properties are located at 955 N Fiesta Blvd (108.2k sf), 1171 and 1191 N Fiesta Blvd (126.5k sf), 2075 and 2135 W Obispo Ave (180.1k sf) and 2020 W Guadalupe Rd (13.7k sf).

JLL Capital Markets facilitated the transaction, representing the seller, and bringing ViaWest Group to the table as the buyer. The price was not disclosed.




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