|
|
9/20/24
|
Dallas-based Stonelake Capital Partners recently acquired an infill industrial portfolio comprising two small-bay buildings totaling 80k sf of space in Phoenix’s Deer Valley submarket. The price was not given out.
22200 North 7th Ave, Phoenix |
 |
|
Situated adjacent to the Phoenix-Deer Valley Airport, the pair of freestanding buildings are less than a mile apart off East Deer Valley Rd. The buildings are both 100% leased to single tenants.
Consisting of buildings located at 22200 North 7th Ave (34.2k sf) and 21605 North Central Ave (45.8k sf), the portfolio is strategically within minutes of the I-17 Fwy. Developed in 2000, the buildings are situated on just over 10 acres combined and feature gated and secured yards, 24’ clear heights, grade level loading, and LED lighting.
Cushman & Wakefield’s Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the buyer and seller in the transaction. Trevor McKendry and Chris Rogers of DAUM provided leasing advisory.
“The Deer Valley industrial sector maintains great fundamentals, largely driven by the state’s ever-growing semiconductor and advanced manufacturing industries, specifically TSMC’s new prominent chip-manufacturing plant(s) in north Phoenix that is transforming the entire area. The sum of this occupier demand and expansion has resulted in vacancy compression and rent escalations across the Deer Valley submarket, which has led to greater investor demand,” commented Bundy.
Deer Valley Airport Industrial Portfolio is one of four industrial offerings in the Phoenix Metro being concurrently sold by the owner, consisting of seven properties total. The Cushman & Wakefield team has already facilitated the sale of four properties in the portfolio with only three remaining available for purchase.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
