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CBRE Global Investors Picks Up PHX Logistics Facility

CBRE Global Investors acquired Tempe Logistics Center, a 175,314-square-foot industrial building located in the Southeast Valley submarket of Phoenix, on behalf of Allstate as part of its investment portfolio. Cushman & Wakefield’s Will Strong, Mike Haenel, Andy Markham and Phil Haenel negotiated the $18.1-million transaction on behalf of the Irvine, CA-based seller, LBA Realty.

Located at 1524 W. 14th Street in Tempe, AZ, the property is a “last-mile” warehouse with 18- to 24-foot clear heights, automatic fire suppression, 23 dock loading doors, six grade-level doors, an over-standard parking ratio, and 130-foot truck courts. Recent tenant improvements include full air conditioning in the office and warehouse space, an office and kitchen buildout, and an upgraded power supply.

Strong says, “This investment opportunity offered both stable cash flow in its long-term leases and value-add upside potential with a below-market rate.” The asset is fully leased to high-quality, investment-grade tenants.

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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.