MDC Realty Advisors Picks Up Phoenix Asset in Sale-Leaseback Deal

MDC Realty Advisors has bought a 114,907-square-foot industrial asset inside Phoenix’s Sky Harbor submarket, for $24.3 million. Tenant American Fridge Provides Inc. offered the property and signed a leaseback settlement.

The one-story facility is at 2632 E. Chambers St. In-built 1996, it options 28-foot clear heights, HVAC local weather management programs, six grade-level loading doorways, dock levelers and bumpers, a 30,500-square-foot workplace element and 132 car parking spots.

The 7-acre asset is close to Interstate 10 and Arizona State Route 143. It’s also 4 miles from Phoenix Sky Harbor Worldwide Airport, 16 miles from Glendale, Ariz., 19 miles from Chandler, Ariz. and inside 31 miles of Phoenix-Mesa Gateway Airport. The ports of Los Angeles and Lengthy Seaside are inside a 6-hour drive.

Cushman & Wakefield Vice Chairman Phil Haenel, Government Vice Chairman Will Sturdy, Senior Affiliate Foster Bundy and Affiliate Katie Rapine negotiated the transaction on behalf of each events.

Industrial gross sales inserting Phoenix amongst prime metros

In line with a current CommercialEdge report, Phoenix recorded $161 million in industrial gross sales in January, at a mean sale value of $152 per sq. foot. The metro was outpaced by Denver ($210 million) and the Bay Space ($229 million).

Current industrial investments included G.W. Williams Co.’s $38 million acquisition of Koll Cotton Middle, a flex industrial campus totaling 228,605 sq. ft. United of Omaha Life Insurance coverage Co. supplied acquisition financing within the type of a $17.5 million, 5-year mortgage.

ViaWest Group paid $71.1 million in Gilbert, Ariz., buying a 428,427-square-foot, six-building portfolio. Clarion Companions offered the 98-percent-leased portfolio.