A commercial real estate company announced the $10.25 million sale of a former Motorola manufacturing center near 52nd and Roosevelt streets in Phoenix.
CBRE announced the sale of the 28.4-acre parcel at 1110 N. 52nd Street in Phoenix, formerly a Motorola semiconductor manufacturing facility, to Baker Development Corp. The seller of the deal was Reich Brothers.
The property, just north of Sky Harbor International Airport on Loop 202 at the 52nd Street exit, represents a new Class A industrial projects in northeast Phoenix.
Baker Development plans to build 800,000 square feet of data center space or a 400,000 square-foot Class A industrial project, to be completed in 2022, according to a press release.
“Being located adjacent to SRP’s Pico substation makes this project extremely attractive to data center users, said John Werstler of CBRE.
“In addition, the desirable northeast Phoenix demographics, high demand for Class A inventory, immediate access to the full interchange at Loop 202 and 52nd Street and high-brand visibility to the expressway makes this location extraordinary.”
The press release said a recent survey of commercial real estate investors ranked Phoenix as a top-10 target among America’s metros. The Sun Belt market jumped five spots to No. 4 in CBRE’s 2021 Americas Investor Intentions Survey.