JLL Capital Markets secured the sale of a 357K SF award-winning industrial development
PHOENIX, (Apr. 11, 2025) – JLL Capital Markets announced today the sale of Sight Logistics Park, a state-of-the-art, two-building industrial development in Tempe, Arizona, on behalf of the seller, ViaWest Group. Last year, RED and NAIOP Arizona recognized this development as Redevelopment Project of the Year, underscoring its exceptional transformation and market impact.
The property was initially sold by Insight Enterprises to ViaWest by Colliers International.
Completed in 2023, Building 1, located at 6840 S. Harl Ave., spans 155,916 square feet, while Building 2 at 6860 S. Harl Ave. encompasses 201,187 square feet. The award-winning development features 32-foot clear heights, 100% HVAC coverage, 66 dock-high doors, 200-foot truck court, 10 grade-level doors, and 8,400 amps of power. Additionally, the property boasts 1,000 feet of frontage along Interstate 10, offering exceptional visibility and access.
The property is 88% leased to a diverse tenant roster including nVent, Daikin, Rentex, and Supply Chain Solutions. Adding to its income potential, two digital billboards along I-10 are fully leased to Lamar Advertising Company, one of the largest outdoor advertising companies globally and the largest in North America.
Located in the highly sought-after Tempe submarket, Sight Logistics Park benefits from its proximity to major transportation arteries, including I-10, US 60, Loop 101, and Loop 202. The development is 12 minutes from Sky Harbor International Airport, facilitating efficient regional and national distribution.
“This development exemplifies ViaWest’s ongoing commitment to delivering exceptional industrial product in premier infill locations,” said Todd Weiss, Chief Operating Officer at ViaWest Group. “From land acquisition through lease-up, Sight Logistics Park demonstrates how intentional design, construction quality and strategic market positioning drive strong investor interest and long-term value.”
The JLL Capital Markets Investment Sales team was led by Senior Managing Director Ben Geelan, Senior Director Greer Oliver, and Associate Connor Nebeker-Hay. Colliers’ Vice Chair Rob Martensen, Senior Executive Vice President Phil Breidenbach, and Senior Associate Sam Jones handled the local market leasing efforts.
"Sight Logistics Park represented an opportunity to acquire a core brand new, state-of-the-art, institutional quality trophy asset located in one of the highest barrier-to-entry infill submarkets of Metro Phoenix," said Geelan. "The Tempe submarket continues to outperform, with vacancy rates well below the Phoenix metro average and robust tenant demand for high-quality, mid-bay industrial space."
ViaWest was named NAIOP Industrial Owner/Developer of the Year and Office Owner/Developer of the Year last year, the first time this has occurred in Arizona history. In its 21-year history, it has been a multiple-year winner of both awards, as well as Firm of the Year and Best Places to Work.
JLL Capital Markets is a full-service global capital solutions provider for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients, whether they need investment sales and advisory, debt advisory, equity advisory, or recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide and offices in nearly 50 countries.