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Phoenix & Southwest  + Industrial  | 

CBRE GI Buys PHX Distribution Facility from Hines for $49M

Los Angeles-based CBRE Global Investors Acquisitions, LLC acquired Southwest Industrial Center in Phoenix from Houston-based Hines for $48.5 million. The property at 7775 West Buckeye Rd. is a 32-foot clear height, Class A cross-dock distribution building constructed in 2015, and totals 684,420 square feet.

JLL’s Bo Mills, Mark Detmer and Ryan Sitov, along with Marc Hertzberg and Anthony Lydon, represented the seller.

“Southwest Industrial Center is located in one of the largest and most sought after industrial markets in the West, and offers stable in-place income as well as an immediate upside through further lease-up of the existing vacant space,” said Mills.

Hines still owns an adjacent development site, which was not part of the sale.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.