Institutional Property Advisors (IPA), a division of Marcus and Millichap, and Colliers International are pleased to offer the opportunity to acquire a +/- 231,454 SF single tenant industrial building (“Property” or “Asset”) leased to an investment grade tenant via a sale leaseback. The Asset consists of a warehousing facility featuring 35’ clear ceiling heights, advanced R&D & electronics labs, and office space. The Asset is situated on a large +/- 13.12-acre parcel in the heart of Chandler, AZ directly off the I-10 and Loop 202 interchange. This investment opportunity will be 100% leased to Avnet Inc., (“Tenant” or “Avnet”) and a new 10-year absolute NNN lease will commence at the close of the transaction.
Avnet carries investment grade credit ratings of BBB- from S&P and Fitch, Baa3 from Moody’s and is publicly traded on the NASDAQ (Ticker Symbol: AVT) with a current market cap of ~$4.76 billion. Additionally, Avnet reported revenues of $23.8 billion in fiscal year 2024, EBITDA of $1.1 billion, and a net income of $499 million.
Ranked #157 on the Fortune 500 list, Avnet is a leading global electronic component distributor, as well as a trusted provided or supply chain and design chain solutions. Founder in 1921, Avnet partners with electronic component manufacturers in every major electronic component segment to serve customers in 140 countries.