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5/22/25
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Longpoint Partners acquired a 222.4k sf, Class A industrial asset in Tolleson, AZ in a $36.05 mil ($162/sf) transaction. Located at 130 South 83rd Ave, the freestanding single-tenant building is 100% leased to Exel Inc (dba DHL Supply Chain).
DHL’s client is Bose Corporation, a globally recognized leader in the audio industry known for its high-quality sound systems and innovative technology. Bose Corporation had previously leased the project for approximately 25 years since 1999 before recently assigning the lease to DHL in the summer of 2024.
130 South 83rd Avenue is located near Interstate 10, Loop 202 and Loop 101 and features a 30-foot clear height, abundant dock and grade-level doors, an advanced ESFR sprinkler system, and a reliable, high-capacity power supply. Offering direct freeway access, the building is very well-connected, making it a desirable choice for everything from logistics to manufacturing.
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.
“Located in the heart of the booming Southwest industrial submarket, this is a rare opportunity to add value in a high-demand area. With in-place rents well below market and strong fundamentals driving long-term growth, the property is ideally positioned to capture future upside,” noted Strong.
According to Cushman & Wakefield latest market report, the Southwest Valley reported 1.9 msf of leasing activity coupled with 930.3k sf of positive net absorption in Q1 2025, leading all Phoenix Metro submarkets in both categories to begin the year. This quarter performance also carried on the strong momentum from 2024 in which the Southwest Valley tallied over 12.8 msf of occupancy growth, representing 58% of Phoenix’s total annual industrial growth and most of all other regional submarkets by a wide margin.
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