(Editor’s note: News releases are published unedited, unless they contain factual errors.)
PHOENIX, June 23, 2016 – Phoenix-based ViaWest Group closed on their sixth industrial acquisition in the past eighteen months further expanding their Southwestern U.S. focused industrial platform. ViaWest paid $5.76 million for the 89,423 SF industrial building located directly across from Chase Field near the corner of 7th Street and Jackson Street centered in the heart of downtown Phoenix. The seller was Global Logistics Properties (GLP) and both the buyer and seller were represented by Andy Markham, Will Strong, Mike Haenel, and Phil Haenel at Cushman & Wakefield.
The property is currently 53.85% leased with one remaining lease-ready vacancy of 41,267 square feet.
The property’s infill location is strategically located midway between Arizona’s two largest interstates, I-10 (0.5 miles) and I-17 (1.5 miles), and is just minutes from Sky Harbor International Airport.
“This asset is a great compliment to the other properties in our industrial fund which focuses on well-located general industrial properties in strategic secondary markets throughout the Southwest U.S. This property is uniquely positioned to cater to tenants who desire a prime infill location combined with the functionality of today’s modern warehouse needs,” noted Danny Swancey, Partner at ViaWest Group.
The Cushman & Wakefield Team of Andy Markham, Will Strong, Mike Haenel, and Phil Haenel will continue to market and lease the remaining vacancy. The facility offers 24 foot clear height, heavy power, and fully air-conditioned suites. The remaining 41,267 SF available for lease has been completely renovated and is rent-ready with new spec office, high energy efficient lighting, white warehouse walls, and various other improvements.
About ViaWest Group
Established in 2003, ViaWest Group is a Phoenix-based full service commercial real estate acquisition, development, property management, investment and advisory firm. ViaWest Group has been one of the fastest growing real estate investment companies in the Valley over the last few years with over $300MM of acquisitions. Since inception, ViaWest has been involved in over $600MM of acquisitions. ViaWest Group is looking to acquire and develop more office, industrial, retail and commercial land parcels in the Southwestern United States.
Visit www.viawestgroup.com or contact Steven Schwarz at (602) 957-8300 ext 2, sschwarz@viawestgroup.com or Gary Linhart at (602) 957-8300 ext 1, glinhart@viawestgroup.com.
About Cushman and Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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