PHOENIX, ARIZONA – NAI Horizon Senior Vice President Isy Sonabend and agent Drew Eisen represented a Chicago-based real estate investment and development company in the $4.4 million acquisition of an industrial building in Phoenix.
NAI Horizon represented Industrial Outdoor Ventures of Schaumburg, Illinois, in the purchase of the 48,000-square-foot building at 2600 W. McDowell Ave., in Phoenix.
“The buyer is an investor in freight and trucking terminals nationally,” Sonabend said. “This property will go through extensive modernization and will be offered for lease only. This is a diminishing product type. Due to the scarcity of this property type, we have already experienced a lot of interest.”
The 10.7-acre site with service and warehouse buildings is a freeway-friendly location in Central Phoenix. The property is a multi-building distribution facility 3.7 miles from Downtown Phoenix with 17 foot to 20 foot clear heights, roll down doors and drive-in/through service bays.
The secure and paved site features three street ingress, providing immediate access to Phoenix's major freeways, I-10, I-17 and US Highway 60.
Industrial Outdoor Ventures is a Chicago-based real estate investment and development company that specializes in providing real estate solutions for heavier industrial uses in major markets throughout the U.S.
It is focused on creating value for its tenants, host communities and investors through the acquisition, and long-term ownership of mission critical Industrial Service Facilities (ISF), which feature a significant outdoor storage component.
The seller was D. Thompson Properties of Portland, Oregon.