ViaWest Group Acquires 345000 Square Foot Industrial Property From Ernest Garcia's Verde Investments For $60M

A 345,000-square-foot industrial property located at 2402 West Beardsley Road West in Phoenix, AZ, has been sold for $60 million. The property was previously owned by Verde Investments, led by Ernest Garcia. The facility, constructed in 1988 and renovated in 2020, offers features such as 18–22-foot clear heights, a fitness center, cafeteria, conference room, and 6 MW of power.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $60,000,000
• Sale Price per Square Foot: $174
• Buyer: ViaWest Group
• Seller: Ernest Garcia - Verde Investments
• Built: 1988
• Renovated: 2020
• Market: Phoenix, AZ
• Square Footage: 345,000

The acquisition of the property was made by ViaWest Group, a firm involved in property investment and management. Ernest Garcia, a billionaire known for his investments, represented Verde Investments in this transaction. The deal represents a strategic investment in the industrial sector, highlighting the operational capabilities of the facility.