Stos Partners Kicks Off 2022 With $27.5 Million Sale of Industrial Building in Phoenix Metro Area

 

CJ Stos

TOLLESON, AZ – Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, has sold a 227,000 square-foot, single-tenant industrial property in the Phoenix Metro area submarket of Tolleson, Arizona, for $27.5 million. 

 This sale comes on the heels of a record year for the firm. Stos acquired 11 properties last year totaling $221 million and sold five assets totaling $112 million, bringing the firm’s total transaction volume in 2021 to more than $330 million.

 According to CJ Stos, Principal at Stos Partners, the firm originally acquired the Tolleson property in December 2020 for $16.35 million, marking its entrance into the Arizona market.

 “We were able to successfully translate our proven industrial investment strategy, which we’ve enacted throughout Southern California, to the Phoenix market, resulting in a nearly 70% increase in value over the approximately 1-year hold,” says Stos.

  “We had been monitoring the Arizona market for several years and officially made the decision to expand our holdings into the area with this acquisition.

Jay Boyle

 "Although we were bullish when it came to this investment from the start, the property outperformed our expectations and we ultimately sold ahead of the business plan based on market demand.”

 The firm initially secured the asset in an off-market, all-cash transaction based on existing relationships and ability to close in less than 30 days to meet an accelerated timeline, notes Jay Boyle, Executive Vice President at Stos Partners.

 “Due to our reputation in the market and strong capitalization, we were able to purchase this property for a competitive price and execute our ownership strategy,” explains Boyle.

 “During escrow at the end of 2020, we secured a new lease with the existing tenant for an additional five-year term, which maintained cashflow and further positioned the asset for long-term success.”

 Jason Richards

Jason Richards, Partner at Stos Partners, adds: “We strategically identified Tolleson as a submarket that offers large distribution and manufacturing tenants a prime infill location within the growing Phoenix metro, where we will continue to seek opportunities amidst Arizona’s pro-business economy and robust labor supply.”

 The property was built in two phases in 2005 and in 2016. It features 32’ clear height, dock-high loading doors, and variety of high-quality amenities.

 The building is located at 10300 W. Buckeye in Tolleson, Arizona. The asset was sold to an undisclosed institutional buyer.

CONTACTS:-

 Tess Hezlep / Katie Haga
The Smart Agency, Inc.
(949) 438-6262
thezlep@thesmartagency.com  

 www.stospartners.com.