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July 25, 2024
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Copper State Bolt & Nut Leases 94k sf Industrial Facility in Phoenix


Copper State Bolt & Nut, a manufacturer and distributor of fasteners and related products in North America, has leased a 94.2k sf industrial/warehouse facility in Phoenix. Terms of the deal were not disclosed.

The property, located at 1002 S 54th Ave, is owned by Stos Partners, who purchased the building in December 2022 and is utilizing its capital-improvement program to upgrade the facility. Built in 1992, the building is situated on 4.2 acres and features warehouse and distribution space and 7k sf of office space, 25-foot warehouse clearance, a new roof, 17 dock-high doors, two drive-in, ground-level doors, HVAC in the warehouse space and an EVAP cooling system throughout the warehouse area, and good power.

Phil Haenel, Andy Markham and Mike Haenel with Cushman & Wakefield represented the landlord in the transaction. CBRE’s Bill Bayless repped the tenant.

According to Cushman & Wakefield’s latest Q4-2022 market report, direct industrial vacancy in the overall Phoenix market was a healthy 4.4% with the Southwest Valley submarket, where the property is located, at 4.6%. The Phoenix market achieved a robust nearly 21.7 msf of occupancy growth in 2022, with the Southwest Valley submarket accounting for the lion’s share with 15.8 msf of growth.

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