Arizona

TOLLESON AND TEMPE, ARIZ. — Cohen Asset Management has completed the dispositions of two Class A industrial properties totaling 292,185 square feet. The dispositions fetched a combined total of $45.3 million across two transactions. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the deals. In the first transaction, KKR acquired a 249,904-square-foot warehouse/distribution facility located at 8313 W. Latham St. in Tolleson for $31.8 million. The single-tenant property is fully leased, on a long-term basis, to an international convenience store operator. A California-based high-net-worth family purchased a 42,281-square-foot Class A industrial/warehouse building located at 2077 E. University Drive in Tempe for $13.5 million. The single-tenant property is leased to a global electric vehicle and clean energy company.

SCOTTSDALE, ARIZ. — Fadden Enterprises has completed the sale of Evans Airpark Center, a four-building industrial park located at 8212 and 8224 E. Evans Road and 14555 and 14557 N. 82nd St. in Scottsdale. Portland, Oregon-based Harsch Investment Properties acquired the multi-tenant asset for $17.6 million. Tracy Cartledge, Steve Lindley, Bob Buckley and Michael Kitlica of Cushman & Wakefield’s Phoenix office represented the seller in the transaction. Evans Airpark Center consists of four buildings offering a total of 120,433 square feet of industrial space. The manufacturing/warehouse facility was constructed in the early 1980s, while the remaining three general industrial buildings were constructed in 2006. At the time of sale, the industrial park was 90 percent occupied by multiple tenants.

PHOENIX — Cale Enterprises and Los Angeles-based 36th Street Partners have completed the disposition of Desert Gateway II, a two-building industrial property located at 747 and 777 W. Pinnacle Peak Road in Phoenix. A California-based private investor acquired the asset for $13.4 million in an off-market transaction. Completed in January 2018, the property features 76,874 square feet of Class A industrial space spread across two multi-tenant buildings. The 36,004-square-foot and 40,870-square-foot buildings feature 20-foot clear heights, 12-foot by 14-foot overhead doors, office build-out and air conditioning throughout the office and warehouse space. At the time of sale, the property was 95 percent occupied. Dylan Scott, Mike Ciosek and Eric Bell of Kidder Mathews served as leasing agents prior to the sale.