PHOENIX — The Koll Co. has purchased a two-building industrial portfolio, totaling 65,594 square feet in southwest Phoenix. JFN Mechanical sold the properties for $13.7 in an off-market transaction.
The portfolio consists of a 32,608-square-foot building, delivered first-quarter 2022, at 4587 W. McDowell Road that is fully leased to Phoenix WinSupply, and a 32,986-square-foot facility at 5127 W. Roosevelt St. that JFN will continue to occupy through the sale-leaseback agreement. JFN Mechanical is a plumbing contractor that works exclusively on student housing, multifamily, seniors housing and hospitality construction projects.
The property at 4587 W. McDowell Road features 24-foor clear heights, 1,200 square feet of office space, dock and grade doors, evaporative cooling systems, LED lighting, ESFR sprinklers and a fully secured truck court. The facility at 5127 Roosevelt St. features 24-foot clear heights, 3,000 square feet of office space, dock and grade doors, evaporative cooling systems, LED lighting, ESFR sprinklers and a fully secure truck court.
Phil Haenel and Will Strong of Cushman & Wakefield represented both parties in the portfolio sale and leaseback.