Cushman & Wakefield’s Phoenix Industrial Private Capital Group is pleased to offer the extraordinary opportunity to acquire the 100% fee simple interest in 2632 East Chambers Street, an industrial warehouse property located in Phoenix, AZ (“The Property”). This premier asset consists of one industrial building totaling ±114,907 SF on ±7.0 acres. The Property is currently 100% leased to American Refrigeration Supplies (“ARS”) who has been in business since 1940 and has been a tenant in the building for the last 27 years. At the close of escrow, ARS will sign a new 7-year, triple net lease at a rate of $1.05 NNN which is ±13% below market.
2632 East Chambers Street is located in the Sky Harbor Airport submarket, one of the most desirable locations in the Phoenix Metro area. The Property has immediate access to Phoenix Sky Harbor International Airport, SR-143 and I-10 freeways. The submarket benefits from remarkable industrial tenant demand driven by (i) available and affordable labor pool; (ii) low cost of living and favorable business climate; (iii) access to the two most active container ports in the U.S. (Los Angeles and Long Beach); and (iv) ability to service major population centers via an integrated network of freeways.