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Class A industrial project changes hands for $21.8M in Goodyear, Cushman & Wakefield reports

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Cushman & Wakefield’s Kirk Kuller, Will Strong, Michael Matchett, Molly Hunt, and Dean Wiley of the firm’s National Industrial Advisory Group – Mountain West represented both parties in the sale. (File Photos/DigitalFreePress)
Cushman & Wakefield brokers Class A facility to Cohen Asset Management
Staff Reports | Digital Free Press

Cushman & Wakefield has arranged the sale of Elwood Rising, a new Class A, speculative industrial development totaling 120,000 square feet in Goodyear.

Found part of the growing southwest Valley of the Sun, the freestanding building was delivered in January and is fully leased to a global industrial field services powerhouse, according to a press release.

Atlas Capital Partners, a multi-disciplinary real estate firm with investments across industrial, multifamily, office, and retail asset classes, which is headquartered in Scottsdale, constructed and sold the property to Cohen Asset Management.

Based in Southern California, Cohen Asset Management, a premier private real estate investment firm, acquired the property for $21.8 million, the release states.

Cushman & Wakefield’s Kirk Kuller, Will Strong, Michael Matchett, Molly Hunt, and Dean Wiley of the firm’s National Industrial Advisory Group – Mountain West represented both parties in the sale.

JLL’s Pat Harlan and Kyle Westfall served as the project’s leasing team and negotiated the existing lease.

“Atlas developed, leased, and now sold a tremendous core investment property comprising brand new construction, a strong long-term tenant, and a premier location in the Phoenix Southwest Valley,” said Mr. Kuller, senior director. “This exceptional state-of-the-art facility near Loop 303 places the property in a great position for potential long-term capital appreciation and desirability within the industrial leasing markets.”

The facility is at 3750 S. 156th Ave. in Goodyear.

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