Staff Reports | Business & Construction
Cushman & Wakefield has arranged the sale of an industrial property at 3446 and 3466 S. 7th St. in Phoenix for $14.9 million.
The transaction involved representation of both the buyer and seller and reflects continued activity in the local industrial real estate market, according to a press release.
Cushman & Wakefield’s Phil Haenel, Will Strong and Foster Bundy represented the buyer, Baron Properties. Jason Moore and Steve Larsen of JLL represented the seller.
“Proximity to the airport, efficient access to major transportation corridors and the strength of the local industrial sector made these properties a compelling acquisition opportunity for Baron Properties,” Mr. Bundy said.
The property is designed to support distribution and warehousing operations, with layouts suited for logistics use. It includes space for loading and storage, as well as approximately one-quarter acre of secured outdoor storage.
The site is located about 3 miles from Phoenix Sky Harbor International Airport and approximately three-quarters of a mile south of Interstate 17 via the Seventh Street exit, providing access to regional and national transportation routes.
The location also offers nearby access to dining, service and retail amenities, and supports movement of goods throughout the Phoenix metropolitan area.
Cushman & Wakefield’s Mr. Haenel, Mr. Bundy and Justin Smith have been retained to lease the property, which currently has 44,314 square feet available.
