Deer Valley Last-Mile Logistics Building Sells for Nearly $75M
A newly developed 145,474-square-foot last-mile fulfillment/distribution facility on 34 acres in Phoenix recently sold for $74.7 million. Built in 2021, the class-A single-tenant asset is 100 percent leased to a global Fortune 50 e-commerce company.
The property was developed and sold by a joint venture between Seefried Properties and a real estate fund advised by Crow Holdings Capital. The buyer was Stonemont Financial Group, a private real estate investment firm specializing in industrial development and net lease assets.
Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay with Cushman & Wakefield in Phoenix represented the seller in the transaction.
“Strategically located in the flourishing Deer Valley submarket, the property represents a best-in-class last-mile logistics building in metropolitan Phoenix that is supported by a high-credit global tenant,” said Strong. “This logistics hub provides users with outstanding access to transportation, labor and consumers critical to the tenant’s business. Mission-critical parking and dedicated queuing lanes create long-term value with flexibility to continue providing automobile/van parking.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.