Opus Sells Phoenix Industrial for $33M

Principal Real Estate Investors made a deal with merchant builder Opus Development Co. LLC to acquire a 393,292-square-foot industrial project west of Phoenix Sky Harbor International Airport. The buyer paid developer Opus $32.7 million for Opus Airport Industrial, at 3333 S. 7th St. in Phoenix. Bo Mills and Mark Detmer with JLL, and John Werstler and Cooper Fratt of CBRE, negotiated the transaction.

The speculative property, which sits on 22 acres, recently delivered and received its certificate of occupancy. The building can host from one to four tenants. The CBRE agents have the leasing assignment.

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