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11/20/24
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Phoenix Airport Logistics, a 393.5k sf, Class A warehouse/distribution building in Phoenix’s sought-after Airport submarket, was acquired by INDUS Realty Trust Inc, a U.S.-based logistics real estate business. Located at 3333 South 7th St, the property was 100% leased to five tenants at the time of sale.
Built in 2016, the cross-dock distribution center boasts a functional design and top-tier features, including a 36-foot clear height, 96 dock-high doors, and 62 trailer parking spaces. Strategically located near downtown Phoenix in the Sky Harbor Airport submarket, it offers quick access to both I-17 and I-10—two essential routes connecting the entire Phoenix metro area.
Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt of the firm’s National Industrial Advisory Group facilitated the transaction as the exclusive real estate brokers.
“Phoenix Airport Logistics is a modern industrial facility with a highly functional buildout,” commented Hunt. “The property is supported by a robust roster of diverse tenants, including a prominent global e-commerce/tech company. Additionally, the building’s prime location provides exceptional connectivity to key regional markets facilitating seamless transportation of goods and optimizing supply chain efficiency for tenants.”
Major logistics companies and third-party logistics (3PL) providers have a significant presence in the Airport submarket, utilizing the area as a hub for regional and national distribution.
Michael Gamzon, President and CEO of INDUS stated, “We are bullish on the long-term secular trends in the industrial sector and with access to significant capital from our investors, Centerbridge, GIC and ADIA, we remain focused on growing our platform through the acquisition and development of high-quality industrial properties in fast-growing and strongly performing geographic markets.”
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