PHOENIX-UBS Realty Advisors of San Francisco has acquired a warehouse in southwest Phoenix for $26.25 million.
The 400,000-square-foot warehouse is occupied by Home Depot, according to the Phoenix Business Journal. The property, located near 75th Avenue and Buckeye Road, was sold by Sealy & Co. of Dallas, according to Jones Lang LaSalle. The distribution building is fully leased through 2017 to Home Depot.
“As our industrial market continues to strengthen, this property—like so many others in Phoenix—will deliver on its upside potential through rent growth, tenant retention and steadily rising values,” states Mark Detmer, a Jones Lang broker who helped facilitate the transaction. See story in the Phoenix Business Journal.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
