Indus Realty Trust Acquires Phoenix Airport Logistics Warehouse From CBRE Investment Management For $72.4M

The property involved in the transaction is located at 3333 South 7th Street in Phoenix, AZ, and is classified as an industrial asset. The transaction price was $72,400,000. The facility encompasses 393,484 square feet and has a price per square foot of $184. It is a 2016-built warehouse fully leased to five tenants, including Amazon, and includes features such as 96 dock-high doors and trailer parking. The property is situated in close proximity to Sky Harbor Airport.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $72,400,000
• Sale Date: 11/21/2024
• Address: 3333 South 7th Street
• Market: Phoenix, AZ
• Square Footage: 393,484
• Price per Square Foot: $184
• Buyer: Indus Realty Trust
• Seller: CBRE Investment Management
• Broker Representatives: Michael Matchett, Molly Hunt & Will Strong - Cushman & Wakefield

The acquisition of the property was carried out by Indus Realty Trust from CBRE Investment Management. The involved brokerage team comprises three representatives from Cushman & Wakefield, highlighting their role in facilitating the transaction.