Spec Industrial Project To Rise From $2.35 Million Land Sale in Phoenix

PHOENIX - Dec. 10, 2014 - PRLog -- A joint venture of Dallas-based Jackson Shaw Company and Las Vegas-based LaPour Partners has purchased an 11.5 acre property at 1814 S. 7th Ave. in Phoenix for $2,350,000 or $4.86 per SF. The site is located directly at the confluence of I-17 and 7th Ave. with 1200’ of freeway visibility to the site. Immediate development of the parcel is underway for a 178,000 SF spec industrial project named Parc 17.

The property was previously occupied by the Phoenix Brickyard. The Brickyard has operated at this location since the mid 1930’s. There are 16 structures on the property that will be razed to make way for Parc 17.

Plans for the A2-zoned project include one multi-tenant industrial building at 101,000 SF with divisibility to 12,000 SF and two single tenant buildings, 44,600 SF and 32,000 SF with private, gated storage yards. Development costs are projected at $14.5 million. Ground breaking is scheduled for year-end 2014 with completion in summer 2015.

Stein Koss, SIOR and Tom Louer, SIOR, principals with Lee & Associates represented the joint venture in the purchase of this asset. The property was purchased in an all-cash transaction from Clinton Campbell Contractors, Inc. of Phoenix.

"LaPour is bullish on the Phoenix market and has a great sense of identifying opportunity," said Koss. "Infill redevelopment isn’t for everyone, but these guys recognized the value in the location and rolled up their sleeves to work with the seller and solve the site issues," he added.

The JacksonShaw/LaPour venture has strong financial abilities and a 40-plus year track record of industrial development experience, nationwide.

For more information, contact the Koss/Louer Team:

Stein Koss, SIOR
602.912.3520, skoss@leearizona.com

Tom Louer, SIOR
602.954.3779, tlouer@leearizona.com

About Us:

Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, land and investment sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state. Each of our nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.