Westcore Lands Million SF Phoenix Industrial Campus

Westcore has acquired Central Logistics, a four-building, a one million square foot industrial campus in the Central Phoenix area in a recent, $93.5 mil ($86/sf) transaction. The 24.9-acre asset was sold by Phoenix-based ViaWest Group. 

During its ownership, ViaWest Group made significant renovations and additions at Central Logistics. Last year, ViaWest Group thoroughly refurbished Central Logistics’ Building D North, a 76,000 square foot, cold storage facility, currently leased to Bay Logistics. 

ViaWest Group also constructed two new buildings at the property. One is rented to Waymo, the other to Ferguson. The fourth building, the 165,000 square foot Building B, is vacant. Westcore’s plans to renovate it.

Will Strong and Greer Oliver with Cushman&Wakefield’s Capital Markets team helped broker the sale. John Werstler leads a CBRE team who will market the property for the new ownership.