Cohen Sells 250K-SF Phoenix Warehouse

Cohen Asset Management sold Riverside 43, a Phoenix industrial building totaling 250,043 square feet, which debuted in 2017. Karney Properties, a family-owned and institutionally operated real estate investment firm based in Southern California, acquired the property for $34.2 million. Will Strong, Molly Hunt, Michael Matchett, Jack Stamets, and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group—Mountain West represented the seller in the sale transaction.

The Phoenix warehouse features a two-level office build-out component, a clear height of 36 feet, a truck court ranging from 135 to 190 feet, and 260 parking spaces. The building is fully leased to Central Admixture Pharmacy Services. Located at 2200 S. 43rd Ave., the asset is about 6 miles from downtown and roughly 11 miles west of Phoenix Sky Harbor International Airport. Major thoroughfares within 5 miles include Loop 202 and interstates 10 and 17.