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Kitchell Sells Freeway Logistics Industrial Complex in Phoenix
Phoenix-based Kitchell Development sold Freeway Logistics, a Class A, 230,422-square-foot industrial and distribution complex in Phoenix to CAM Industrial Fund Acquisition, LLC for $28.6 million. Located at 3345, 3555 and 3575 S. 28th St., the roughly 18-acre development encompasses three buildings featuring 30-foot clear heights, concrete truck courts, and fully secure perimeter fencing.
CBRE’s John Werstler and Cooper Fratt represented both the buyer, an affiliate of Los Angeles-based Cohen Asset Management, Inc., and the seller.
“Kitchell developed a true first-class industrial property that responds to users’ increasing demands for high-quality product in the Airport submarket,” said Werstler. “Due to the project’s location, freeway visibility and functionality, we were able to lease the property to credit tenants.”
The property is 100% leased to four tenants with long term leases in place. It is situated along the 1-10 freeway in Phoenix’s airport submarket, offering convenient access to Phoenix Sky Harbor International Airport.
For comments, questions or concerns, please contact Dennis Kaiser
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- ◦Sale/Acquisition