PHOENIX, Arizona – Cushman & Wakefield announced that Matt DePinto has joined the firm’s Phoenix office as a Senior Brokerage Coordinator for the industrial team of Mike Haenel, Andy Markham, Will Strong and Phil Haenel.

Matt joins the firm from Lee & Associates where he was the Senior Research Analyst. With over 10 years of industry experience, he will act as a facilitator utilizing key Cushman & Wakefield assets to help build upon strategic goals set by the team principals. In his new role, Matt will manage team transactions in both capital markets and leasing capabilities while applying his commercial real estate analysis and reporting skills.

“Matt’s experience in the industry will be greatly beneficial to our top ranked industrial team of Mike Haenel, Andy Markham, Will Strong and Phil Haenel,” said Bryon Carney, Market Leader for Cushman & Wakefield’s Phoenix office.

Prior to joining the commercial real estate industry, Matt worked at Gannett Publications and the Phoenix Business Journal. There, he honed his skills in marketing, graphic design, public relations, social media and newspaper/magazine publishing, which he has carried over to his work in commercial real estate.

“Matt’s research and marketing background will be a valuable asset to our team, our firm and our clients. We are excited and fortunate to have him,” said Will Strong, Executive Managing Director.

Cushman & Wakefield Completes Lease-Up and Sale for Globe Management Company

PHOENIX, Arizona — On behalf of Globe Management Company, a family-owned investment company in Paradise Valley, Arizona, Cushman & Wakefield completed the sale of 550 E. Elliot Road in Chandler, Arizona for $10.75 million ($118 PSF). The buyer was Denver-based IPT Acquisitions LLC.

Will Strong, Mike Haenel, Andy Markham, SIOR and Phil Haenel of Cushman & Wakefield represented the seller with a record price per square foot. Previously, the team leased-up the building to its current tenant, the largest internet-based retailer in the world. The tenant was represented by Cushman & Wakefield’s Jim Wilson.

550 E. Elliot Road is a state-of-the-art, 91,204-square-foot, last mile logistic center in the Southeast Valley. In logistics terms, ‘last mile’ is the distance between a fulfillment center and the customer’s doorstep. The distribution center is well-positioned in Metro Phoenix, resulting in customer orders being picked, packed and shipped to the customer’s doorstep within the same day if orders are received before a certain cut-off time.

“This irreplaceable location, functional design and abundant amenities provide strong potential to maintain full occupancy by the U.S. Fortune 20 company and could improve projected cash flow throughout the life of the asset,” said Will Strong.

Cushman & Wakefield Negotiates 248,900 SF User Sale in Sky Harbor

PHOENIX, Arizona – On behalf of Young’s Market Company of Arizona, a family-owned distributor of wines, spirits and select beverages, Cushman & Wakefield recently negotiated the purchase of 402 S. 54th Place in Phoenix for $20.5 million ($82.36 PSF). The seller was Los Angeles-based Barley Equites V, LLC.

Andy Markham, SIOR, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented Young’s Market Company of Arizona. The team represented Young’s in previous site selections, including the lease at 402 S. 54th Place in 2014 and a prior distribution space at 200 S. 49th Avenue.

“As one of the leading beverage distribution companies in the country, Young’s decided to make a significant investment in the Arizona market. This centrally located facility provides for optimum distribution routes,” said Andy Markham, Executive Managing Director of Cushman & Wakefield.

The 248,900-square-foot, refrigerated/cold storage industrial building was built in 1999 and renovated in 2003. With 26 dock-high loading doors and 44 ft. clear ceiling height, the distribution asset also offers rail service by Union Pacific double-rail spur line and rail dock high loading on the south side of the building. Sitting on 18.43 acres, the property has excellent freeway accessibility with 202 freeway frontage/visibility and signage.