Three-building multi-tenant asset built in 2021 acquired by Denver-based Dream U.S. Industrial Fund LP
Cushman & Wakefield has advised Marwest Enterprises, LLC in the disposition sale of Logic Park 91, a brand new state-of-the-art Class A industrial project totaling 730,180 square feet in Phoenix, Arizona. Situated on nearly 44 acres, Logic Park 91 consists of three 100% leased buildings located at 9191 and 9393 W Buckeye Rd and 1500 S 91st Ave in Phoenix’s Southwest Valley.
Completed in 2021, the industrial asset was acquired by Denver-based Dream U.S. Industrial Fund LP. The property is fully leased to 10 tenants, spanning a variety of industries.
Executive Managing Director Will Strong, Associate Greer Oliver, and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller. The firm’s Senior Director Gary Anderson also provided local market leasing advisory.
“Logic Park 91 is a unique core investment of a fully leased, recently completed Class A industrial project of scale positioned in the heart of one of the best performing industrial markets in the US,” said Will Strong. “Phoenix remains a very attractive location for investors due to its robust labor market and growing demand for logistics and strong consumer spending that has contributed to tenant demand in the industrial sector.”
Greer Oliver added, “The Phoenix metro industrial market will continue to be one of the most resilient real estate sectors amid the COVID-19 crisis as activity remains strong particularly with the rise in e-commerce demand.”
Best in class features of Logic Park 91 include its seven points of ingress and egress, dedicated truck queuing lanes, heavy power, 32-foot clear heights, excellent loading with 100% concrete truck courts, 60-foot speed bays, ESFR sprinkler system, and ample trailer parking.