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5/20/26
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In a Phoenix industrial trade, Belkorp purchased a 174.8k sf advanced manufacturing facility for $44.15 mil ($252/sf). The property is located at 3809 E. Watkins St within the city’s highly sought-after Sky Harbor Airport submarket, near Interstates 10 and 17, Loop 202 and Phoenix Sky Harbor International Airport.
The institutional-quality asset features 8,000 amps of power. It is fully leased to AZ Pharmacy (PillPack), a subsidiary of Amazon, with the lease backed by a corporate guarantee from Amazon.com.
Strategically positioned near Interstates 10 and 17, Loop 202, and Phoenix Sky Harbor International Airport, 3809 E. Watkins St. offers exceptional regional connectivity and represented a rare opportunity for Belkorp to acquire a mission-critical industrial asset in one of Metro Phoenix’s most supply-constrained infill markets.
Will Strong, Phil Haenel, Foster Bundy, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren with Cushman & Wakefield coordinated the transaction. Bundy notes that the combination of long-term tenancy with a Fortune 2 company, substantial tenant capital investment, and significant available power made this a highly compelling opportunity.
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