INDUS Acquires Phoenix Warehouse Distribution Center

INDUS Realty Trust acquired Phoenix Airport Logistics, a 393,484-square-foot warehouse/distribution center in Phoenix’s airport submarket. Indus paid $72.4 million for the building, which was leased to five tenants at the time of the sale, including Amazon. Indus was represented by CBRE. Cushman & Wakefield advised the seller.

Commercial Edge reported ahead of the recent sale, the property carried a $27.2 million loan originated in 2020 by Pacific Coast Capital Partners. The property last traded in 2019, when Principal Real Estate Investors sold it for $38.8 million.

The distribution center located at 3333 S. Seventh St. came online in 2016. It is located near both downtown Phoenix and Sky Harbor Airport.

INDUS Realty Trust, which specializes in logistics properties, owns or has majority ownership in 55 properties and projects under development, totaling 9.3 million square feet.

Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!