Cushman & Wakefield’s National Industrial Advisory Group, as exclusive advisor, is pleased to offer the opportunity to acquire the 100% fee simple interest in the Phoenix Last Mile Industrial Portfolio (“the Property” or “the Portfolio”). This warehouse portfolio features two (2) institutional quality industrial buildings totaling 491,152 SF located in the high-growth market of Phoenix, Arizona. Collectively, Canal Crossing, located at 5670 South 32nd Street, and Riverside @ 51st, located at 2300 South 51st Avenue, are 100% leased, provide 3.4 years1 of weighted average lease term (WALT) at 45% below market rents.
Occupying core infill locations with proximity to demand drivers and residential rooftops, the properties benefit from immediate access to major transportation corridors in the market, offering connectivity to both greater Phoenix and the Southwest US within a single day drive time.
Canal Crossing, a single-tenant building occupied by Keystone Automotive Group (a subsidiary of LKQ Corporation), is centrally located in the Airport submarket of Phoenix with proximity to I-10, AZ-143, AZ-60, I-17 and Loop-202. The Property totals 155,114 SF and features 30’ clear height, 130’ truck court, 37 dock-high doors, two ground-level doors, and ESFR sprinklers.
Riverside @ 51st is a multi-tenant building strategically positioned in the Southwest Valley submarket of Phoenix and benefits from proximity to Loop-202, I-10, I-17 and AZ-60. The Property totals 336,038 SF and features 30’ clear height, 135’-185’ truck court, 91 dock-high doors, six ground-level doors, and ESFR sprinklers.
The buildings are being offered for sale on a portfolio or single-asset basis.