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| Southwest Industrial Center, 7775 West Buckeye Road, Phoenix, AZ |
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| Mark Detmer |
PHOENIX, AZ –-- JLL Capital Markets has completed the $48.5
million sale of Southwest Industrial Center, located at 7775 West
Buckeye Road in Phoenix, Arizona, on behalf of Houston-based global real estate
investor, Hines, who retained ownership of the adjacent development site which
was not part of the sale.
The buyer was Los
Angeles-based CBRE Global Investors Acquisitions, LLC.
Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov of JLL’s Industrial Capital Markets platform, along with Phoenix-based Managing Directors Marc Hertzberg and Anthony Lydon, represented the seller.
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| Bo Mills |
"Southwest Industrial Center
is located in one of the largest and most sought after industrial markets in
the West, and offers stable in-place income as well as an immediate upside
through further lease up of the existing vacant space,” said Mills.
Southwest Industrial Center is a 32-foot clear height, Class A cross-dock distribution building constructed in 2015 and totals 684,420 square feet.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm’s in-depth local market and global investor knowledge
delivers the best-in-class solutions for clients — whether a sale, financing,
repositioning, advisory or recapitalization execution.
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| Ryan Sitov |
In 2017 alone, the firm’s 2,400 Capital
Markets specialists completed $170 billion in investment sale and debt and
equity transactions globally.
For capital markets content,
please visit The Investor, an online and mobile app news source providing
real-time commercial real estate news to asset buyers and sellers around the
world.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.
Contact:
Stacey Hershauer
Phone: +1 480 600 0195
Email: stacey@focusaz.com
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