EXECUTIVE SUMMARY

Cushman & Wakefield’s Phoenix Industrial Private Capital Group is pleased to offer the extraordinary opportunity to acquire the 100% fee simple interest in 236 & 240 North 48th Avenue Phoenix, AZ (“The Property” or “The Portfolio”). This premier asset consists of two industrial buildings totaling ±94,720 SF on ±5.28 acres. 240 North 48th Avenue is currently 100% leased to Zummit Plastics (58,240 SF) and Lord & Sons (24,960 SF). 236 North 48th Avenue is currently 100% leased to Zummit Plastics (11,520 SF). At the close of escrow, the seller will agree to sign a brand new, 10-year triple net lease at a market rate in two suites that accumulate to 73% of The Portfolio.

The Property is located in the Southwest Phoenix Industrial Submarket just south of the ever-growing I-10 corridor. The rising dependence of e-commerce and 3PL tenants has benefited the area as demand for warehouse and logistics space has significantly increased in the submarket due to nearby railroad access and I-10, I-17, Loop 101, Loop 202 freeways. This submarket has become one of the most sought-after locations for new speculative development in the last five years due to its proximity to other Mountain West regions. Furthermore, this area is primed for stable investment opportunities with strong local and regional tenants, consistent rent growth and robust demand from users across the Valley.

INVESTMENT THESIS

The Property is an infill investment opportunity to acquire a stabilized industrial asset in a high-growth submarket and capitalize on the rapid demand for industrial space in Southwest Phoenix. While tighter market conditions has caused vacancy rates to hit a historic low throughout the area and Phoenix metro, the combination of healthy tenant demand and easing construction activity have allowed fundamentals to remain strong. Despite impressive rent growth, the submarket maintains its affordable position relative to the rest of the Phoenix which will attract investors due to the mark-to-market story.