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| Greer Oliver |
PHOENIX, AZ – ViaWest Group has completed the acquisition of a substantial industrial portfolio totaling 428,427 square feet in Gilbert, Arizona.
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| Part of industrial portfolio totaling 428,427 square feet in Gilbert, AZ |
The acquisition solidifies ViaWest Group's commitment to strategic real estate investments in the East Valley Phoenix area. The price was not disclosed.
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| Danny Swancey |
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| Mark Detmer |
This portfolio is 98 percent occupied and spans 26.87 acres and comprises six buildings housing 11 tenants.
Noteworthy features of the properties include clear heights ranging from 15 to 30 feet, a total of 64 dock-high doors, 23 grade-level doors and 639 car parking spaces.
The properties are strategically located in Gilbert, Arizona, with addresses at 955 N Fiesta Blvd. (108,212 SF), 1171 & 1191 N Fiesta Blvd. (126,472 SF), 2075 & 2135 W Obispo Ave. (180,087 SF) and 2020 W Guadalupe Rd (13,656 SF).
With
average rents currently positioned 30 percent below market rates and an average
of three years of remaining lease term across the portfolio, the acquisition
presents a compelling mark-to-market opportunity in a highly sought-after East
Valley Phoenix location.
Ryan Sitov
Danny
Swancey, Partner, ViaWest Group, said "This transaction underscores our continued
commitment to identifying and capitalizing on strategic infill industrial
investment opportunities in top-tier markets across the Southwest. The acquisition aligns perfectly with our investment strategy and enhances our
presence in the region."
The JLL Capital Markets team, led by Mark Detmer, Greer Oliver, Ryan Sitov, and Connor Nebeker-Hay, facilitated the seamless execution of the transaction.
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| Connor Nebeker-Hay |
For more news, videos, and research reso. urces, visit JLL’s newsroom.
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CONTACT:
Alli Stent
PR,
Hotels & Hospitality
Capital Markets
Chicago,IL
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M +1 330 329
6750
Mikele Keiffer
(602) 957-8300 x116.
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