PHOENIX, ARIZONA – NAI Horizon represented the seller in the $4.57 million disposition of 10 acres of prime industrial land in the highly sought-after Phoenix Sky Harbor International Airport submarket.
NAI Horizon Senior Vice President Isy Sonabend and Agent Drew Eisen represented 4 P’s LLLP of Peoria, Arizona, in the sale. The buyer was Phoenix-based ViaWest Group, which plans to develop the site with a Class A industrial building, to be known as Airport48 Industrial.
NAI Horizon will handle marketing and leasing of the project.
“In the new and growing economies, this location, with direct access into Sky Harbor International Airport, and minutes to the I-10, Loop 202, I-17 and Superstition Freeway, provides users unparalleled access to all corners of the Valley,” Sonabend said. “ViaWest Group has, and is developing numerous Class A Industrial properties successfully throughout the Valley. ViaWest Group will construct a state-of-the-art facility to serve an eager submarket appetite.”
The land is situated in the heart of the Metro Phoenix freeway system at 3232 S. 48th St., in Phoenix. It is zoned for industrial use and is in close proximity to SR 143 and Interstate 10 with three full-diamond interchanges within a few miles. The parcel is in an opportunity zone.
Construction on the industrial building is scheduled to begin in 2021 with a completion of early 2022.