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12/06/24
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An 87.2k sf industrial building in Gilbert, AZ traded hands in a $15.3 mil ($175/sf) owner/user buy. The property is located at 1150 N Fiesta Blvd, west of Country Club Dr and south of Baseline Rd.
The property’s strategic location in Gilbert, near major corporate neighbors such as Northrop Grumman/Orbital, Amazon, Empire Machinery, Wingcopter, and Amphenol Technologies, enhances its appeal to industrial users. With its heavy electrical capacity and flexible infrastructure, the facility is well-suited for manufacturing and industrial operations.
Pete Klees and Rick Danis of Kidder Mathews represented the seller in the deal. The buyer was Flo Realty Gilbert LLC. According to Klees, they initially marketed the property for lease but strong interest from buyers prompted them to move to a dual strategy that allowed them to capitalize on both leasing and purchase opportunities.
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