Schnitzer Properties Acquires Industrial Property In Phoenix, AZ For $46.2M

The industrial property located at 4602 & 4710 E. Elwood St in Phoenix, AZ has been sold, along with a loan being secured.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $46,200,000
• Address: 4602 & 4710 E. Elwood St, Phoenix, AZ
• Market: Phoenix, AZ
• Square Footage: 225,333
• Price per Square Foot: $205

The buyer of the property is Schnitzer Properties, while the seller is LBA Logistics. The transaction was facilitated by brokers from Cushman & Wakefield, namely Will Strong, Jeff Chiate, Mike Adey, Greer Oliver, and Connor Nebeker-Hay. M&T Bank acted as the lender, providing a loan amount of $28,000,000.

This sale and loan transaction highlights the value and potential of the industrial property market in Phoenix, AZ. The involvement of reputable brokers and a significant loan amount indicates the confidence and interest in this particular property.