PHOENIX-UBS Realty Advisors of San Francisco has acquired a warehouse in southwest Phoenix for $26.25 million.
The 400,000-square-foot warehouse is occupied by Home Depot, according to the Phoenix Business Journal. The property, located near 75th Avenue and Buckeye Road, was sold by Sealy & Co. of Dallas, according to Jones Lang LaSalle. The distribution building is fully leased through 2017 to Home Depot.
“As our industrial market continues to strengthen, this property—like so many others in Phoenix—will deliver on its upside potential through rent growth, tenant retention and steadily rising values,” states Mark Detmer, a Jones Lang broker who helped facilitate the transaction. See story in the Phoenix Business Journal.
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