Harry Rabadi of Phoenix purchased the 5,525-sf industrial building at 3515 W. Clarendon Ave. from Joseph F. Halstead. Steve Bodeman of the Phoenix office of DAUM Commercial Real Estate Services handled the property sale. The property is located at the southwest corner of 35th and Clarendon avenues, which is south of Indian School Road and within miles of Interstate 10 and 17.

The west central Phoenix submarket is among the Valley's tightest, with a vacancy rate of 4.1%. The Valley's overall industrial vacancy is 7.2%. Like most Valley submarkets, the west central Phoenix area has experienced negative net absorption this year, putting back nearly 250,000 sf so far. No new construction was under way in the area at the start of the third quarter, according to recent surveys.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.