PHOENIX, AZ (June 25, 2025) — Newmark has successfully arranged the sale of 2727 West Grovers Avenue, a fully leased, low-coverage industrial property located in the thriving Deer Valley submarket of North Phoenix, Arizona. Newmark Managing Director Gary Cornish facilitated the transaction on behalf of the seller, ViaWest Group, a Phoenix-based real estate investment, development, and management firm.
The 22,706-square-foot industrial facility is fully occupied by Metronet, one of the fastest-growing fiber internet providers in the U.S. The building features a highly efficient layout, with approximately 20% upgraded office space and 80% functional warehouse area. Originally constructed in 1985, the facility underwent a comprehensive renovation in 2024, significantly enhancing its appeal and operational performance.
Situated on a 2.4-acre site, the property includes a secured one-acre yard, eight loading docks, four grade-level doors, and clear heights ranging from 18 to 26 feet. The building was marketed as a low-coverage, infill industrial opportunity, offering long-term value in one of Metro Phoenix’s most dynamic growth corridors.
“This transaction reflects our ability to identify overlooked industrial opportunities and unlock value through strategic capital improvements and tenanting,” said Alex Hondros, Senior Vice President of Acquisitions & Asset Management at ViaWest Group. “We’re proud of the results at Grovers Avenue and the role this property plays in supporting the ongoing industrial growth in North Phoenix.”
“This sale highlights the strong demand for low-coverage, infill industrial properties throughout Metro Phoenix,” added Gary Cornish of Newmark. “We were pleased to assist ViaWest with the acquisition in 2023 and are proud to support their execution of a successful value-add business plan, resulting in an outstanding outcome.”
Strategically positioned in the Deer Valley submarket, 2727 West Grovers Avenue benefits from its proximity to major employment hubs and regional infrastructure. It lies just eight miles from TSMC’s $165 billion semiconductor campus, providing direct access to Phoenix’s freeway network, including Interstate 17, Loop 101, SR-303, and I-10.
This 2727 West Grovers Avenue, Phoenix sale underscores continued investor appetite for modernized, income-generating industrial properties in high-demand infill locations. It also reflects Metronet’s growing presence in the region, as the company expands its fiber infrastructure throughout the Southwest.