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5/06/25
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In a recent Phoenix owner/user buy, Capitol Engineering Inc paid $13 mil for a 20.4k sf ($637/sf) freestanding industrial building in Metro Phoenix’s sought-after Sky Harbor Airport submarket. The facility, sitting on 11 acres at 1945 West Broadway Rd, was sold by Camblin Steel Service.
1945 West Broadway Rd consists of a 14.4k sf flex building, 6k sf of office space and four open production/manufacturing bays with overhead shelter and several overhead Kone Cranes. The facility was initially built in 2005, with two of the bays constructed in 2013 and 2014.
The warehouse features durable concrete tilt-up construction. There is also ample parking for trucks and vehicles and the perimeter has secured fencing in place. The property was formerly used as a state-of-the-art structural steel fabrication facility.
Cushman & Wakefield’s Private Capital Group in Phoenix consisting of Phil Haenel, Will Strong, Foster Bundy, and Katie Repine, in partnership with Bryce MacDonald of the firm’s Sacramento office represented the seller. Will Groves of Cushman & Wakefield in Phoenix repped the buyer, who with this deal is relocating five miles from its existing location.
“This is a well-positioned facility within the prized Airport submarket, an area known for strong tenant demand and steady growth, with a healthy 6.3% vacancy rate (according to C&W's Q1-2025 market report),” commented Bundy. “The property’s location is in close proximity to the airport, Downtown Phoenix, and two of the most sought-after industrial hubs in the metro area. It also provides easy access to the I-17, I-10 and Loop 202 freeways.”
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