PHOENIX—HFF has secured joint venture equity for the acquisition of 43^rd Avenue Logistics Center, a new state-of-the-art, 394,775-square-foot industrial facility located at 1635 S 43^rd Ave.

43^rd Avenue Logistics Center is located in the southwest Phoenix industrial area, a warehouse district popular with large and smaller scale distribution and manufacturing companies. The property has rail access and is situated close to Interstates 10 and 17 as well as State Routes 143, 101, 202 and 303. Completed in 2013, the property is LEED certified and was developed jointly with a local prominent developer and a regional bank that had previously foreclosed on the site.

HFF worked on behalf of the buyer, Cohen Asset Management, in arranging the joint venture equity in an off-market transaction. The HFF team representing Cohen Asset Management was led by senior managing director Paul Brindley, senior managing director Wally Reid and associate director Jeff Sause. Equity proceeds were used to purchase the property.