PHOENIX-UBS Realty Advisors of San Franciscohas acquired a warehouse in southwest Phoenix for $26.25million.
The 400,000-square-foot warehouse is occupied by Home Depot,according to the Phoenix Business Journal. The property, locatednear 75th Avenue and Buckeye Road, was sold by Sealy &Co. of Dallas, according to Jones Lang LaSalle. Thedistribution building is fully leased through 2017 to HomeDepot.
“As our industrial market continues to strengthen, thisproperty—like so many others in Phoenix—will deliver on its upsidepotential through rent growth, tenant retention and steadily risingvalues,” states Mark Detmer, a Jones Lang broker who helpedfacilitate the transaction. See story in the Phoenix Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
