Fully Vacant Chandler Industrial’s Sale Speaks to High Demand

A new 113,100-square-foot freestanding class-A industrial distribution building on 8.7 acres in Chandler recently sold in an off-market transaction. Denver-headquartered institutional investment management firm, EverWest Advisors, acquired the recently completed asset for $20 million.

The vacant property was developed and sold by Kitchell Development Company, which acquired the land in August 2020.

“The project timeline – from design and financing to construction and disposition – was one of the fastest in our company’s 70-plus years,” said Kevin Miller, Kitchell senior director of development. “It’s indicative of the robust market and appeal of quality industrial product.”

Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay with Cushman & Wakefield in Phoenix represented the seller. Andrew Brigham, Evan Koplan and Serena Wedlich with CBRE provided leasing advisory.

“This asset provided a great opportunity to acquire a new modern class-A industrial facility in the Phoenix metro market,” said Strong. “Investors remain drawn to strong locations throughout Phoenix, where the market is flourishing with exceptional occupancy growth and demand. The fact this property sold fully vacant speaks to the demand and bullishness of this market.” Located at 800 E. Germann at the northwest corner of Germann and McQueen roads, the property features access to the Loop 202 freeway.