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Koll Cotton Center

4050 E Cotton Center Blvd, Phoenix, AZ 85040, United States

Koll Cotton Center

Seven Multi-Tenant Light Industrial Buildings Totaling 225,608 SF | Irreplaceable Infill Sky Harbor Location

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Property Type
Industrial
Deal Type
Acquisition
Risk Profile
Core PlusValue-Add

EXECUTIVE SUMMARY:

Cushman & Wakefield, as exclusive advisor, is pleased to offer the opportunity to acquire the 100% fee simple interest in Koll Cotton Center located at 4050 East Cotton Center Boulevard, Phoenix, AZ (“The Property”). This multi-tenant asset consists of seven light industrial buildings totaling 225,608 SF on 17.8 acres in the highly sought after Sky Harbor Airport submarket.

 

The Property is 96% leased with 4.0 years of weighted average lease term remaining. The average tenant size is 6,636 SF and current in-place rents are 11% below market. (Direct NNN asking rate in the submarket is $1.21.) The staggered rent expiration schedule offers the opportunity to consistently grow the net operating income through annual rent escalations and market-rent renewal options.

 

The Sky Harbor Airport submarket has been the most robust and strongest performing industrial market in Metro Phoenix. This area is well-known due to its proximity to I-10, I-17, U.S. Route 60, and Loop 202. The Sky Harbor airport continues to experience record breaking rental growth due to strong tenant demand from corporate users in the logistics, distribution and e-commerce sectors.

 

Koll Cotton Center is strategically located less than 1 mile south of I-10 and minutes from a full diamond interchange at I-10 and Loop-202 to the southeast and Phoenix Sky Harbor International Airport to the northwest. In addition, the Property is less than 15 miles from the BNSF intermodal rail facility in Phoenix’s West Valley. The Property provides excellent access to all points in the metro Phoenix and the greater California region via I-10 Freeway.