PHOENIX — Cushman & Wakefield on Tuesday advised the seller in the disposition sale of an 89,423-square-foot Class A industrial building in Phoenix.
Referred to as Sky Harbor Logistics Center, the multi-tenant property is situated in the Sky Harbor Airport submarket and was 100% leased.
The buyer was MIG Real Estate, a privately held real estate investment and development firm headquartered in Newport Beach, Calif., which acquired the property for $17.08 million.
Executive Managing Director Will Strong, Associate Greer Oliver and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group-Mountain West teamed together with the firm’s Managing Director Phil Haenel to represent the seller. Cushman & Wakefield’s Executive Managing Directors Mike Haenel and Andy Markham provided leasing advisory.
“Sky Harbor Logistics Center is a fully leased, highly functional Class A industrial project with the ability to accommodate a variety of uses significant to the region,” said Strong. “The property resides in an outstanding, A+ infill submarket, with tight vacancies and constrained land options. Seated in the heart of the Downtown Phoenix residential area, with access to a vast population base, the property is ideal for e-commerce.”
Sky Harbor Logistics Center is located at 220 South 9th St., approximately one mile from the I-10 and I-17 freeways and two miles from Sky Harbor International Airport.
Situated on 4.13 acres, the building features 24-foot clear heights, dock high and grade level loading, heavy power and 100% HVAC and EVAP cooled spaces.
