Fully leased, four-building property acquired by Cohen Asset Management
Cushman & Wakefield has advised the sale of a brand new 405,656-square-foot Class A industrial development at 107th Ave and Pierce St in Avondale (Phoenix), Arizona. Comprised of four buildings constructed in 2021, the multi-tenant industrial park known as Avondale 107th is 100% leased to a mix of industrial users. Cohen Asset Management Investors acquired the asset for $71 million.
Avondale 107th was sold and developed by Eisenberg Company. Executive Managing Director Will Strong, Senior Director Kirk Kuller, Associate Greer Oliver, and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the transaction. Cushman & Wakefield’s Andy Markham, SIOR, Mike Haenel and Phil Haenel provided leasing advisory ensuring that the property was fully leased prior to completion of the project.
“This is a state-of-the-art industrial asset that is well positioned near major freeways and corporate users in a desirable West Phoenix industrial market,” said Will Strong. “Avondale has experienced great growth and revitalization which has made assets here very appealing for investment.”
Avondale 107th consists of two mirroring 81,553-sf buildings featuring 28-foot clear height and dock/grade loading and two mirroring 121,295-sf buildings featuring 32-foot clear height and dock and grade loading. The park features speed bay spacing throughout, an all concrete truck court that is secured and gated, LED lighting, heavy power and five points of ingress/egress.
The property is also strategically located just off the Interstate 10 freeway near the Loop 101 interchange.