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Conor, Globe Assemble 19 Acres, Plan Phoenix Spec Industrial
Conor Commercial Real Estate assembled 18.8 acres in Phoenix’s land-constrained Sky Harbor Airport submarket for a spec industrial development. Airport 40 is slated to start construction in June, and will include two rear-load industrial buildings totaling 320,700 square feet.
Conor Commercial’s Derek Buescher says, “We are thrilled to launch this development after months of planning to bring what was originally three disjointed land parcels together into one usable parcel for Class A industrial. Airport 40 is a textbook example of infill redevelopment in an opportunity zone, and offers excellent locational advantages with its urban position in the heart of the airport industrial market.”
Cushman & Wakefield’s Mike Haenel, Andy Markham and Phil Haenel negotiated three separate parcel transactions at 3030 S. 40th St. for $8.1 million. As part of one of the deals, the venture also had to purchase 14 acres in Chandler, AZ for $4.35 million, which was resold to Valley Christian Schools for $5 million.
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