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5/19/25
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In a recent AZ retail trade, Stockbridge purchased Cove Logistics Center, a recently delivered, freestanding 99.5k sf Class A industrial building on over 6.5 acres in Phoenix. The price was not disclosed.
Located at 3755 West Van Buren St and completed in October 2024, the single-tenant building is situated in Phoenix’s sought-after Sky Harbor Airport submarket. The property is 100% leased to Winsupply Inc, a leading supplier of residential, commercial construction, and industrial products.
Cove Logistics Center features prominent identity at Van Buren St and 37th Ave. The building contains roughly 4k sf of office space, 32-foot clear height, 25 dock-high and two drive-in doors, 100% HVAC, heavy power, ample parking, and ESFR sprinklers. The strategic location is near the intersection of I-10, I-17, and Loop 202, and is also proximate to the airport, Union Pacific Railroad, and Downtown Phoenix.
Will Strong, Molly Hunt, Michael Matchett, Jack Stamets, and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group—Mountain West represented the seller in the transaction. CBRE’s Cooper Fratt and John Werstler provided local market leasing advisory.
“Cove Logistics Center was a standout opportunity — Class A construction, prime freeway access, and a location in one of Phoenix’s fastest-growing industrial hubs. With a long-term credit tenant in place, it checked all the boxes for investors and ultimately led to a very successful sale,” said Hunt.
“The Airport submarket is one of the most dynamic industrial hubs in the region — resilient, in-demand, and consistently on the radar of institutional investors and major occupiers. Strong leasing activity and interest from key sectors like logistics, manufacturing, and e-commerce continue to drive momentum,” added Strong.
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