December 13, 2018 Comments Off on Prologis Picks Up Southwest Phoenix Industrial for $93M Views: 3249 National News, Phoenix & Southwest News, Southwest

Prologis Picks Up Southwest Phoenix Industrial for $93M

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Prologis Inc. acquired Westside Business Park, a 1.1-million-square-foot, Class A industrial park in the southwest Phoenix suburb of Tolleson, AZ, for $92.5 million. The seller was BPP Pacific Industrial AZ REIT Owner LLC.

The property’s four buildings were constructed in 2007 and total more than 1.1 million square feet. The 86%-leased park features fully sprinklered buildings with 28- to 32-foot clear height ceilings, large truck courts and ample dock high and grade level loading as well as freezer/cooler space and food preparation rooms.

JLL’s Bo Mills, Mark Detmer and Ryan Sitov led the team handling the deal on behalf of the seller.

“This property offered institutional investors the opportunity to acquire and add value to an extremely well maintained multi-tenant distribution asset – providing immediate scale in one of Phoenix’s strongest industrial submarkets,” said Mills.

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