CBRE Global Investors Buys Phoenix Industrial Build

CBRE Global Investors has acquired a 393,484-square-foot industrial cross-dock facility in Phoenix. The acquisition is part of the fund’s broader strategy to acquire and lease up properties in key industrial markets across the U.S.

Located at 3333 South 7th Street, the property is in the Airport submarket, which has a tight 8.3 percent availability rate as of Q3 2019. The property is 50% occupied by two tenants.

The property features 36-foot clear heights, 96 dock-high loading doors, four grade-level loading doors, ESFR sprinklers, wide column spacing, secured 135-foot and 185-foot truck courts, ample trailer parking and a TPO roofing system, which reflects sunlight and allows the commercial air conditioners to work more efficiently.