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10/01/24
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Denver-based Comunale Properties purchased a freestanding 39.6k sf, Class A industrial building in Phoenix for an undisclosed price. Located at 20 South 69th Ave in the desirable Southwest Valley submarket, the property is fully leased to Action Gypsum Supply, a leading provider of high-quality building materials.
Situated on 2.4 acres, including 1.6 acres of secured yard, the building is located just south of the ever-growing I-10 corridor and is close to I-10, I-17, Loop 101, and Loop 202 freeways. The building is one of seven industrial offerings being concurrently sold by the owner.
Cushman & Wakefield’s Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the buyer and seller in the transaction. The firm’s Mike Haenel and Andy Markham also provided leasing advisory.
“The combination of healthy tenant demand and easing construction activity in shallow and mid-bay product has allowed fundamentals to remain strong in the 100k sf and under market segment in the Phoenix Metro, as exemplified by the 100% occupancy rate with a strong tenant at this premier industrial asset,” said Bundy.
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