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Phoenix & Southwest  + Phoenix  + Industrial  | 

ViaWest Divests Final Property in SW Industrial Portfolio

Phoenix-based ViaWest Group sold ViaWest Sky Harbor Industrial to Austin-based Pennybacker Capital for $11.2 million. The 89,423-square-foot property is located directly across from Chase Field in the heart of downtown Phoenix near 7th and Jackson streets.

ViaWest acquired the property in 2016 when it was only 53% leased. Through strategic improvements and marketing efforts, the property is now 100% leased including notable tenants APS and Westech Recyclers.

ViaWest Group will continue managing the asset on behalf of Pennybacker Capital. The downtown industrial building is the final disposition of a larger portfolio of thematic properties ViaWest purchased from 2014 to 2016.

ViaWest Group Steven Schwarz says, “The close of this fund is representative of ViaWest’s strong history of finding well-located properties, improving their physical condition and repositioning them to make them more attractive to tenants and buyers.”

Cushman & Wakefield’s Will Strong, Andy Markham, Mike Haenel, and Phil Haenel represented the seller. The buyer was self-represented.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition