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12/18/24
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A 322k sf, freestanding industrial asset in Tolleson, AZ was acquired for $48.83 mil ($152/sf) by San Diego-based SENTRE. Located at 7980-7990 West Buckeye Road, the single-tenant facility is fully leased on a long-term basis to a leading manufacturer of foodservice products.
Occupying over 15 acres of the most core, infill pocket in Phoenix with proximity to key demand drivers, the property benefits from immediate access to major transportation corridors in the market, such as the ever-growing I-10 corridor, offering connectivity to greater Phoenix, the Southwest U.S. and Southern California within a six-hour drive time. Originally built in 1988 and expanded in 2010, the property also features near ±35-foot clear height, ample loading, and heavy power.
Cushman & Wakefield’s Private Capital Group in Phoenix consisting of Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the seller, Chicago-based Brennan Investment Group, in the transaction.
Phil Haenel said, “This exceptional asset features a core, stabilized industrial building located in Southwest Phoenix, a dynamic submarket with robust industrial fundamentals fueled by strong tenant demand. With a strong credit tenant committed to the property for many more years together with its premier location and modern functionality, the asset is well-positioned for long-term investment success.”
Foster Bundy added, “According to Cushman & Wakefield's Q3 2024 industrial market report, the Southwest Valley recorded an impressive 7.3 msf of occupancy growth year-to-date, outperforming all other submarkets in the thriving Phoenix Metro area by a substantial margin. The surge in demand for warehouse and logistics space in the Southwest Valley is driven by its strategic access to major transportation hubs, including railroads and the I-10, I-17, Loop 101, and Loop 202 freeways."
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