ViaWest Group is pleased to announce a new
addition to its expanding portfolio, with the recent successful acquisition of two multi-tenant,
industrial buildings collectively referred to as “Tiger Industrial Center”.
Located at 4901 & 4929
W. Van Buren, the complex is comprised of 103,064 SF. Sold on December 30, 2014, Phoenixbased
ViaWest Group paid $4.55MM acquisition. This is the first acquisition in ViaWest’s new
fund focused on the purchase of industrial assets in the Southwest U.S. Two other assets are in
escrow presently and will close this month. The seller was KTR Arizona LLC, and the buyer
and seller were both represented by Tony Lydon, Marc Hertzberg and Riley Gilbert at Jones
Tiger Industrial Center is located in a prime location at the southeast corner of Van Buren
Street and 51st Avenue, just south of a full diamond interchange at the I-10 Freeway. Currently
16% leased, the subject is situated within one of the largest industrial submarkets in Phoenix.
ViaWest plans to make some strategic improvements to the property and lease the balance of the
space to tenants needing warehousing and manufacturing uses. Tony Lydon, Marc Hertzberg
and Riley Gilbert at Jones Lang LaSalle will continue leasing the property on behalf of ViaWest.
“This property is a great fit as the first investment in our new fund, which is focused on
acquisitions of well-located general industrial and multi-family properties, in recovering
secondary markets in the Southwestern U.S., at significant discounts to replacement cost”, says
Gary Linhart, Founding Principal at ViaWest Group.
Marc Hertzberg of Jones Lang LaSalle expressed, “This asset is uniquely positioned to
cater to 10,000 to 75,000 SF tenants that want a prime, infill location that provides all the
function needed in today’s world at extremely competitive rental rates.”
ViaWest Group intends to hold the property for investment and will serve as the property
manager and asset manager.