A 94,885 SF South Phoenix distribution building at
2021 E. Jones Ave. in Phoenix, sold for $5,125,000 or $54.01 per SF.
seller also negotiated a sale/leaseback term to occupy the facility for 16
Matt McDougall, Principal with Lee & Associates represented the
buyer, Cohen Asset Management of Los Angeles, California and Andy
Cloud with DTZ represented the seller, Michael Lewis Company of
“This transaction helped the buyer satisfy a trade requirement as well
as acquire a highly-specialized distribution building located in the indemand
Sky Harbor Airport submarket,” said McDougall.
The facility started as a +40,000 SF building but has added nearly
55,000 SF in the late 1990s. It includes 30,000 SF of freezer/cooler space,
3,000 SF of offi ce, 2 grade level doors, 20 truckwells and clear height
ranges of 28’-32’. It is located just south and west of Phoenix Sky Harbor
International Airport and close to the Maricopa Freeway (Interstate 10).