Two Sky Harbor Warehouses Sell For $6.3M to Phoenix Investment Group

PHOENIX - Feb. 17, 2015 - PRLog -- Two industrial warehouse buildings totalling 95,094 SF at Broadway Crossing, 2950 E. Broadway Rd. in Phoenix, sold to a local investor for $6,302,500 or $66.28 per SF.

ViaWest Properties of Phoenix, a real estate investment firm purchased the portfolio from the seller, CNA Enterprises of Los Angeles, a real estate investment and advisory firm. Lee & Associates Principal Matt McDougall brokered the transaction.

The buildings are fully leased and were sold on a 7% cap rate. The transaction closed on Jan. 30.

The property is located just south of Phoenix Sky Harbor International Airport in the very active Airport submarket. The buildings, built in 1999-2000, sit on an 11.8 acre parcel. They feature 24’ clear height, high power, exterior dock doors, drive ins and 2 truck wells.

For more information:

Matt McDougall,
mmcdougall@leearizona.com, 602.474.9561

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.