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| Jason Richards |
PHOENIX, AZ, Nov. 27, 2023 – Stos Partners, one of the most active commercial real estate investment and management firms, has announced that it has acquired a 49,513-square-foot industrial complex located on 3.32 acres at 620 N. 43rd Avenue in Phoenix, Arizona from Auto Body Parts LLC for $9 million ($181.77 per square foot).
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| Katie Repine |
Led by Principal and Founder CJ Stos, Partner
Jason Richards, Executive Vice President Jay Boyle and Vice
President of Acquisitions Morgan Hill, the company will immediately
implement a capital improvement program, stabilizing and re-tenanting the
asset.
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| Jay Boyle |
The property can accommodate a full building user, a two-tenant
user, or three separate tenants ranging from 12,000 to 49,513 square feet.
“The Phoenix market continues to be a growing hub for industrial users,” says CJ Stos, Principal at Stos Partners. “Our team identified this asset’s acquisition opportunity and immediate began performing due diligence.
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| Phil Haenel |
“The Phoenix industrial market saw continued rental rate growth during the third quarter this year, coming in at 15% year-over-year with vacancy sitting at 6.2 percent, according to JLL’s Q3 Phoenix Industrial Report,” said Richards.
620 N. 43rd Avenue is ideally located
just minutes from the I-10, I-17, State Route 202 and State Route 101 freeways,
providing convenient access to neighboring communities and accessibility for
transport and logistics. It is also located near Sky Harbor Airport.
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| Morgan Hill |
Stos Partners was represented by Phil
Haenel and Foster Bundy of Cushman & Wakefield as well as Jeff
Hays of Commercial Properties, Inc. in the acquisition.
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for
the Commercial Real Estate Industry: I do what I love and love what I
do.”
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