Beltmann Group of Roseville, MN, operates a logistics and relocation company in the freestanding building at 3815 W. Washington St. Don MacWilliam and Payson MacWilliam, senior vice presidents in the Phoenix office for Colliers International, brokered the transaction. The brokers could not be reached by deadline.
First Industrial has built a large footprint in the area through acquisitions and ground-up developments. Some of the company's better-known developments are the 250-acre First Mesa Commerce Center at Elliot Ellsworth Road in Mesa; 96-acre First Buckeye Logistics Center at Turner Road in Buckeye; and 134-acre First Falcon in Litchfield Park, AZ.
The West Valley is a popular location for distribution and warehouse centers. In its first quarter industrial report for Phoenix, Colliers International's research team says vacancy is slightly more than 14% in the 49.5-million-sf inventory, factoring out to seven million sf.
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