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December 5, 2023
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Bio Huma Netics Buys 40k sf Building in Tempe, AZ


Bio Huma Netics Inc paid $10.5 mil for a 40.2k sf ($261/sf), freestanding warehouse building in Tempe, AZ. The building, situated on 3.3 acres at 3001 South Wilson St, was sold by Tempe-based Phoenix Plastics Products.

Built in 2004, the Union Pacific rail-serviced warehouse building includes 3,000 Amps, 277/480 volt electrical service, 24’-40’ clear ceiling height and is situated in an industrial neighborhood with proximity to Sky Harbor Airport and immediate access to US60, I-17, I-10 and Loop 202 freeways.

Mike Parker of CBRE represented Bio Huma Netics, a global leader in humic substances, and Phoenix Plastics in the transaction.

According to a recent CBRE report, the Phoenix industrial market set a new low vacancy for the Valley in Q2 2022 at 2.8% and leasing activity remains extremely high with 15.8 msf of net absorption by mid-year.

“The vacancy rate for freestanding industrial buildings in this submarket is one-half a percent and this sale is indicative of the strong demand from users looking to secure a facility in the Metro Phoenix area.” said Parker. “Even more appealing, the property has the option to add 10k sf, which can accommodate future growth and an existing UPRR rail spur for seven rail cars.”

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