Don MacWilliam tells GlobeSt.com, “That corridor is usable and accessible, though there is not a whole lot of land, a few parcels. The new loop to connect to I-10 makes it very viable and some will be able to take advantage of some very good properties. There is some vacancy and there will be some deals announced in the next 60 days that will bring confidence back to the market; people are committing a lot of dollars to do that.”

The LEED-certified building has a 1,893-square-foot office, 118 dock-high doors, and four drive-in doors. The warehouse is in the favorable Riverside Tax District and has quick access to the I-10 and future Loop 202. Corporate neighbors include Amazon, Home Depot, Frito Lay, Federal Express, Kraft, DHL and Marshalls.

“This is the largest industrial building Prologis has constructed in Phoenix and the property is ideal for distribution-oriented tenants,” says Don MacWilliam, adding that Exeter will lease the warehouse and the MacWilliam brothers will retain the leasing assignment.

Exeter has acquired other properties in southwest Phoenix, including another warehouse from Prologis, at 2225 S. 43rd Ave., purchased in early 2014.

“This was an excellent opportunity for Exeter to establish a larger presence in the Phoenix market with a quality distribution facility,” says Don MacWilliam, noting, “The timing and price was also right for Prologis to complete the transaction with Exeter.”