PHOENIX—In this edition of Deal-Tracker, a 94,885 square foot South Phoenix distribution building at 2021 E. Jones Ave. in Phoenix, sold for $5.12 million or $54.01 per square foot. The seller also negotiated a sale/leaseback term to occupy the facility for 16 months.
Matt McDougall, principal with Lee & Associates represented the buyer, Cohen Asset Management of Los Angeles and Andy Cloud with DTZ represented the seller, Michael Lewis Company of McCook, IL.
“This transaction helped the buyer satisfy a trade requirement as well as acquire a highly-specialized distribution building located in the in-demand Sky Harbor Airport submarket,” says McDougall.
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