ViaWest Group acquires renovated industrial building in southwest Phoenix
Staff Reports | Digital Free Press
Cushman & Wakefield advised Stos Partners in the sale to ViaWest Group of a premier, freestanding industrial building totaling 94,186 square feet on ±4.20 acres in Phoenix.
The single-tenant facility, which underwent a significant renovation in 2023, is found at 1002 S. 54th Ave. and is 100% leased to Copper State Bolt & Nut Company, according to a press release.
Cushman & Wakefield’s Phil Haenel, Will Strong, Foster Bundy, and Katie Repine of the firm’s Private Capital Group represented Stos Partners in the transaction and were joined by Anna Josephson of KBC Advisors. Cushman & Wakefield’s Mike Haenel and Andy Markham also provided local advisory, the release states.
“Continuing to strengthen its Arizona portfolio, ViaWest Group has acquired a highly functional industrial asset in a sought-after submarket, which due to its modern upgrades now better competes with the newer projects recently built in the area,” Vice Chair Phil Haenel said. “The property is also fully leased to a strong, established credit tenant with a long-term commitment to the building providing stable rental income.”
The property at 1002 S. 54th Ave. was originally built in the early 1990s prior to its most recent 2023 capital improvements.
“Adding to its desirability, the property is well positioned approximately two miles from the I-17 freeway, offering complete transportation linkages via air, ground, and offers accessibility and proximity across the local Phoenix Metro region as well as other Mountain West regions,” said Director Foster Bundy.
Steven Schwarz, Founding Partner at ViaWest Group echoes a similar sentiment.
“This acquisition represents an important addition to the long-term hold portion of our growing industrial portfolio in Phoenix,” he said. “It is a high-quality, well-located property, and we are excited about our new relationship with Copper State.”
The facility features 7,000 square feet of updated office space, 24-foot clear height, 17 docks doors, 2 grade level doors, fenced and secured yard, a new roof (2022), LED Lighting, and ample parking.
