June 18, 2019
Exeter Property Group acquired a 123,754-square-foot industrial building in Phoenix, AZ’s southwest submarket. The buyer paid seller David Turner International LLC $8.2 million for the asset on 4502 Monterosa St.
Trevor McKendry and Chris Rogers with Daum Commercial brokered the off-market transaction between buyer and seller. One of the tenants is listed as SunTree Snack Foods LLC. Situated on 7.2 acres, the property includes an air-conditioned warehouse, six dock-high and two grade-level doors, plenty of parking and a 24-foot clear height.
“The industrial sector in Phoenix has experienced strong investor capital interest as the city continues to see a tremendous amount of economic, employment, and population growth,” McKendry said. “Through our long-standing connections and focus in the metro Phoenix industrial market, we were able to secure the deal with Exeter, whose Phoenix industrial presence enabled them to quickly recognize the opportunity to acquire a property of this size off market.”
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