PHOENIX (June 10, 2024) The sale of 5340 W Luke Ave. in Glendale, AZ was a short-term sale-leaseback opportunity, comprised of two buildings (±11,400 SF office and ±5,992 SF warehouse) on 3.14 acres zoned M-2 (Heavy Industrial) that sold for $4,360,000 ($251 PSF), according to public records.
The warehouse is fully air-conditioned, with a 20’ clear height and 4 grade-level roll-up doors. It is easily accessible with 2 points of ingress/egress (gates on Luke Ave, curb cut on Montebello Ave), is about 50% asphalt/concrete paved, and has an on-site fueling station.
Max Schumacher, Patrick Sheehan, and Jack Hansen of Rein & Grossoehme represented both the buyer and the seller.
Rein & Grossoehme specializes in selling investment properties and retail, office, and industrial leasing. The Sheehan Schumacher team closed over $130,000,000 in 2022, $110,000,000 in 2023, and have sold $57,000,000 with an additional $37,000,000 in escrow YTD in 2024.