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7/14/25
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Karney Properties closed on the $34.2 mil acquisition of Riverside 43, a modern, Class A industrial building totaling 250k sf ($137/sf) on 16 acres in central Phoenix. Located at 2200 South 43rd Ave, the single-tenant property is situated in the Sky Harbor Airport submarket and is 100% leased to Central Admixture Pharmacy Services Inc, a nationally recognized leader in sterile pharmaceutical compounding.
Built in 2017, Riverside 43 features above-standard physical characteristics including 36’ clear height, cross-dock loading, excess trailer storage, and concrete truck courts with full-building circulation and multiple points of ingress/egress. The interior of the building has been configured with improvements tailored to the current tenant’s operations, including advanced HVAC systems and enhanced power capabilities.
Located within minutes of I-10, a key east-west transportation corridor, and near the Loop 202 and Interstate 17 freeways, the property offers exceptional access to major regional and national markets. Additionally, Riverside 43 is proximate to both the Phoenix Sky Harbor International Airport and Phoenix Union Pacific Railroad Terminal, further enhancing its logistics advantages.
Will Strong, Molly Hunt, Michael Matchett, Jack Stamets, and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group—Mountain West represented the seller, SoCal-based Cohen Asset Management Inc.
“Riverside 43 is a state-of-the-art, mission-critical facility strategically positioned in Phoenix’s high-demand Airport submarket,” said Strong. “With a high-credit tenant in place and rents significantly below current market levels, the asset offers substantial upside. The buyer is well-positioned to capture strong income growth and long-term value as the lease matures.”
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