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Three Phoenix Warehouses Trade for $116.7M
Link Logistics sold three industrial buildings to INDUS Realty Trust for $116.7 million, much more than Link originally paid for them. The buildings are 100% leased.
The Phoenix Business Journal reports the first building, at 4 S. 84th Ave. in Tolleson, is a 232,922-square-foot manufacturing facility built in 1989. It sold for $35 million. It was previously sold in 2015 for $18 million.
Tolleson Commerce Park II, also in Tolleson, is a 217,422-square-foot building built in 1999. It sold to INDUS for $40 million. It was previously sold in 2018 for $13.4 million.
The third property is located at 10397 W. Van Buren St. The 278,100-square-foot warehouse was built in 1997 and sold for $40.8 million. It previously sold for $13 million in 2015.
Cushman and Wakefield’s Will Strong, Molly Hunt, Michael Matchett and Jack Stamets represented both the buyer and the seller.
- ◦Sale/Acquisition
