Cushman & Wakefield’s National Industrial Advisory Group is pleased to present an exclusive opportunity to acquire Wier Thirty6 Business Park (“the Project”). The project consists of nine separately parceled industrial buildings for a total area of 104,146 SF, ideally located in the infill Airport submarket of Phoenix. Currently 100% leased to nine tenants, it’s central location and unique configuration ensures long term success. The diversified tenancy reflects the Project’s strength of location dynamics.
• Top performing industrial submarket
• Unique freestanding building configuration
• Secured outside storage
• Multiple ingress and egress points
• Within five miles of six major freeways
• Functional business design with dock and grade loading
Wier Thirty6 Business Park offers a rare opportunity to acquire nine fully leased industrial properties, at a significant discount to replacement cost estimated to be ~$290 PSF . The lack of land available to build comparable product further secures the projects long term success. Additionally, the Properties have been institutionally managed and maintained.
• Stable cashflow with 4.3 years of WALT and a diversitied rent roll with credit tenancy
• Significant upside with rents 17% below market
• Under-supplied size segment with no new competitive product being delivered
• Persistent supply/demand imbalance creates durable rent growth
• Flexible exit strategies with the potential to sell individual buildings at a premium to users
• Property has achieved an average occupancy of 98% over the past 3-years