Staff Reports | Business & Commerce
Cushman & Wakefield has arranged the sale of a 44,335-square-foot industrial outdoor storage (IOS) facility at 724 E. Southern Pacific Drive in Phoenix.
According to a press release, the property, situated on approximately 3.41 acres, includes multiple warehouse and canopy structures, office space and significant industrial infrastructure. The final sale price was $4.6 million.
Cushman & Wakefield’s Will Groves represented the seller, Capitol Engineering, in the transaction. The property was acquired by an owner/user.
“This sale marks the end of an era for Capitol Engineering, which had occupied this historic downtown industrial property since the 1940s,” said Mr. Groves. “The property’s legacy and strategic location make it a rare opportunity for an owner/user to establish operations in one of Phoenix’s most established industrial corridors. Transactions like this highlight the ongoing demand for well-located IOS assets in the Phoenix market.”
The property offers six entry and exit points for efficient ingress and egress at the four-building site. Key features include grade-level oversized doors, an 18-foot clear height and heavy industrial (A-2) zoning.
Found in the heart of Phoenix’s industrial district, 724 E. Southern Pacific Drive provides immediate access to major transportation routes and connectivity to the broader metropolitan area. Its proximity to downtown Phoenix, arterial highways and regional infrastructure supports efficient logistics and distribution operations.
The site’s central location also offers convenient access to industrial services, suppliers and amenities, making it an attractive choice for owner/users seeking a strategic operational base.
