PHOENIX — Industrial Outdoor Ventures (IOV) has acquired a vacant industrial property located at 2600 W. McDowell Ave. in Phoenix. D. Thompson Properties sold the asset for an undisclosed price.
Zoned A-1, the 42,297-square-foot facility features eight drive-thru repair bays, 10 drive-in repair bays, 5,000 square feet of office space, a 10,000-square-foot part storage/warehouse area and a 9.5-acre, fully paved and fenced storage yard.
IOV plans to modernize the property with upgrades to all building systems, replace the old façade, perform roof repairs and partial roof replacement, implement new landscaping and mechanicals, renovate the office space, and add new interior and exterior lighting.
IOV is a national real estate investment company focused exclusively on the acquisition, development and re-development of industrial service facilities. The company plans to market the renovated property for lease.