Staff Reports | Business & Construction
Cushman & Wakefield advised the sale of Parc Germann, a recently constructed industrial project in Chandler.
The asset, Cushman & Wakefield officials report, comprises two state-of-the-art Class A industrial buildings, totaling 224,471 square feet and was 100% leased to three tenants at the time of the sale.
Parc Germann was one of three industrial offerings being concurrently sold by the owner. Libitzky Property Companies, based in Emeryville, California, acquired Parc Germann for an undisclosed amount, according to a press release.
Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt, and Callahan Conway of the firm’s National Industrial Advisory Group – Mountain West team represented the seller in the disposition.
“The sale of Parc Germann reflects a continued trend among investors seeking to acquire high-quality industrial properties strategically located in the Greater Phoenix market,” Mr. Strong said in a prepared statement. “An institutional quality asset supported by three tenants across diverse industries and with ample term left, Parc Germann is well stabilized into the foreseeable future, providing a strong addition to the buyer’s Phoenix metropolitan portfolio.”
Found at 2215 and 2225 E. Germann Road and situated on 16 acres, Parc Germann was built in 2020 and consists of two Class A industrial warehouse buildings. 2215 E. Germann (Building A) is 92,261 square feet and 2225 E. Germann (Building B) is 132,210 square feet.
“Parc Germann is located in the Chandler Airpark submarket, an area driven by strong tenant demand,” said Molly Hunt of Cushman & Wakefield. “Chandler’s central location and excellent access to transportation make it a preferred location for industrial tenants.”
