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11/30/23
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Stos Partners has acquired a 49.5k sf industrial complex in Phoenix for $9 mil ($182/sf). The property, which sits on 3.32 acres at 620 N. 43rd Ave, was sold by Auto Body Parts LLC. The company plans to implement a capital improvement program, stabilizing and re-tenanting the asset.
620 N. 43rd Avenue is ideally located just minutes from the I-10, I-17, State Route 202 and State Route 101 freeways, providing convenient access to neighboring communities and accessibility for transport and logistics. It is also located near Sky Harbor Airport.
Competitive building features include 20 to 22-foot clear height, eight dock-high doors, four drive-in ground level doors, 1,600 AMPS of 277/440 volt power and 4k sf of office space.
Phil Haenel, Brandon Borsheim, Foster Bundy and Katie Repine of Cushman & Wakefield have been retained to oversee leasing at the industrial complex. The property can accommodate a full building user, a two-tenant user, or three separate tenants ranging from 12k sf to 49.5k sf.
Stos Partners was represented by Phil Haenel and Foster Bundy of Cushman & Wakefield as well as Jeff Hays of Commercial Properties Inc in the acquisition.
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