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Phoenix & Southwest   /   March 13, 2020

By: Amy Wolff Sorter

CBRE Global Investors-Sponsored Fund Snags Last-Mile Distribution Facilities

A fund sponsored by CBRE Global Investors acquired two fully leased, build-to-suit, last-mile distribution facilities in Goodyear, AZ and Orlando, FL. The buyer was not disclosed; however, public records indicate the developer/seller was Seefried Industrial Properties of Georgia. The Goodyear property sold for $35.7 million, while the Orlando property traded for $32.6 million, according to local media reports. Both properties are leased to Amazon.

The Goodyear property, at 14000 W. Grant St., was completed in 2019, and totals 115,280 square feet, as does the Florida asset, at 1224 S. Orange Blossom Trail. Both facilities offer 32-floot clear heights, private office space, 135-foot truck courts, air-conditioned lighting and ESFR sprinklers.

“Demand for state-of-the-art last-mile logistics space is something that we expect will continue to increase as consumers’ expectations for shorter delivery times, including same-day delivery, influence the way e-commerce companies operate,” said CBRE Global Investors’ Gardner Ellner.

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