Phoenix-based ViaWest Group closed on their sixth industrial acquisition in the past eighteen months further expanding their Southwestern U.S. focused industrial platform. ViaWest paid $5.76 million for the 89,423 SF industrial building located directly across from Chase Field near the corner of 7th Street and Jackson Street centered in the heart of downtown Phoenix. The seller was Global Logistics Properties (GLP) and both the buyer and seller were represented by Andy Markham, Will Strong, Mike Haenel, and Phil Haenel at Cushman & Wakefield.
The property is currently 53.85% leased with one remaining lease-ready vacancy of 41,267 square feet.
The property’s infill location is strategically located midway between Arizona’s two largest interstates, I-10 (0.5 miles) and I-17 (1.5 miles), and is just minutes from Sky Harbor International Airport.
“This asset is a great compliment to the other properties in our industrial fund which focuses on well-located general industrial properties in strategic secondary markets throughout the Southwest U.S. This property is uniquely positioned to cater to tenants who desire a prime infill location combined with the functionality of today’s modern warehouse needs,” noted Danny Swancey, Partner at ViaWest Group.
The Cushman & Wakefield Team of Andy Markham, Will Strong, Mike Haenel, and Phil Haenel will continue to market and lease the remaining vacancy. The facility offers 24 foot clear height, heavy power, and fully air-conditioned suites. The remaining 41,267 SF available for lease has been completely renovated and is rent-ready with new spec office, high energy efficient lighting, white warehouse walls, and various other improvements.