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Phoenix & Southwest  + Phoenix  + Industrial  | 

Stos Adds to Its Phoenix-Area Industrial Assets

Stos Partners is based in Southern California, but its presence in the Phoenix Metro market is growing … again. Stos has acquired a 28,520-square-foot industrial asset at 2757 E. Chambers St. at a selling price of $4.45 million.

The firm acquired the property through an off-market transaction in partnership with a high-net-worth family office, according to C.J. Stos, Principal at Stos Partners, via a news release. 

“We were able to approach this acquisition, our third in the Phoenix Metro area since entering the market just over a year ago, with an all-cash offer and facilitate a rapid close,” Stos said.

Over the past decade the Phoenix has added 72.7 million square feet of industrial real estate, according to CommercialEdge data. That growth ranks Phoenix sixth in the nation is such construction.

According to Jason Richards, Partner at Stos Partners, this asset presents the opportunity to bring rents up to market through the firm’s capital upgrade program.

“The property currently has a short-term tenant in place, providing immediate cash flow,” says Richards. “Looking ahead, we plan to address deferred maintenance and implement strategic upgrades to the property, ultimately stabilizing and re-tenanting the asset.” 

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