Southeast Valley Industrial Market Experiencing High Demand for Freestanding Product
Phoenix, AZ – CBRE recently completed the sale of a ±124,144-square-foot manufacturing facility on 23.23 acres strategically located with access to a full diamond interchange at US Highway 60 and Stapley Drive for $6 million($48.33 PSF). The property is located at 619 N. Cooper Road in Gilbert, Ariz.
Evan Koplan and Mike Parker with CBRE’s Phoenix office negotiated the transaction. The seller was Schuff Steel Company. The buyer was Phoenix-based Weinberger Waste Disposal.
“Our team was very excited to win the marketing assignment and bring this unique opportunity to the marketplace. There was not one similar property available for sale at the time in the Southeast Valley,” said Koplan. “619 N. Cooper Road checks a lot of boxes for several users in the market with its rare heavy industrial zoning, multiple cranes, power, large fenced yard, active rail spur, excess land and arterial street frontage.”
Koplan says given the continued high demand for large contractor/manufacturing facilities in the Sky Harbor Airport Area and Southeast Valley submarkets, owners are uniquely positioned to benefit from current market conditions.
Parker and Koplan point to the team’s record high sales volumes in 2015 and year-to-date 2016 as further proof of an active and healthy Southeast Valley industrial market. The duo closed out 2015 with a team-record 22 industrial property sales; and now, just halfway through 2016 the team has 17 properties closed or in escrow.
Looking forward, the team’s outlook remains positive. Koplan says he expects this type of activity to continue through the rest of the year, especially where owner/user requirements are concerned.