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8/26/24
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NoCal-based Libitzky Property Companies has purchased Parc Germann, a recently constructed industrial project in Chandler, AZ. The asset, situated on 16 acres at 2215 and 2225 East Germann Rd, comprises two state-of-the-art Class A industrial buildings, totaling 224.5k sf of space and is 100% leased to three tenants.
Parc Germann was built in 2020 and consists of two Class A industrial warehouse buildings. 2215 E Germann (Building A) is 92.3k sf and 2225 East Germann (Building B) is 132.2k sf. The buildings provide great functionality with clear heights of 28’, a combined 62 dock-doors and 14 drive-in doors, 262 parking spaces, and great ingress/egress.
With immediate access to Loop 202 and directly backing Chandler Municipal Airport, Parc Germann is exceptionally well-located, offering superior access to all of Metro Phoenix. Additionally, the location is within 15 minutes of Intel’s Chandler Campus, Arizona’s largest technology developer and manufacturer.
Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt, and Callahan Conway of the firm’s National Industrial Advisory Group – Mountain West team represented the seller in the disposition. The price was not disclosed.
“The sale of Parc Germann reflects a continued trend among investors seeking to acquire high-quality industrial properties strategically located in the Greater Phoenix market,” said Strong. “An institutional quality asset supported by three tenants across diverse industries and with ample term left, Parc Germann is well stabilized into the foreseeable future, providing a strong addition to the buyer’s Phoenix Metro portfolio.”
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