Stos Acquires 7th Phoenix Industrial Asset

Stos Partners has closed on two value-add buildings in Phoenix, paying $13.5 million for two vacant buildings totaling nearly 100,000 square feet. The properties, at 236 and 240 North 48^th Avenue in Phoenix, were sold by LL Capital Investments. The transaction marks Stos Partners’ seventh industrial acquisition in Phoenix. 

Constructed in 1978, 240 North 48^th Avenue totals 83,200 square feet, divisible into smaller units if desired. The warehouse building features 3,450 square feet of office space. 236 North 48^th Avenue was built in 1979 and totals 11,636 square feet. It features 4,200 square feet of office space.

Stos Partners’ business plan is to immediately commence capital improvements to enhance the two buildings’ functionality and appeal.

Phil Haenel, Gary Anderson, and Foster Bundy at Cushman and Wakefield facilitated the transaction. Gary Anderson and Nik Vallens are leading the buildings’ leasing efforts.