March 18, 2020
Trammell Crow Co., developer of West 202 Logistics Center, sold the 554,331-square foot property in Phoenix. Buyer Cohen Asset Management paid $61 million for the distribution facility at 3333 S. 59th Ave., weeks after Amazon leased it up. Rusty Kennedy, Pat Feeney, Dan Calihan, James Cohn, Bill Bayless and Andrew Brigham of CBRE represented the seller.
Situated on 37.8 acres, West 202 delivered in 2019, offering state-of-the-art tilt-up construction an ESFR sprinkler system, 3,600 amps of power, an air-conditioned warehouse and 36-foot clear heights. The property has 490 car parking spaces and 160 trailer parking spaces.
“It was a pleasure working with Trammell Crow Company, from the leasing to the subsequent sale of the property, which garnered a near-record price-per-square-foot for the market,” Kennedy said. “We expect this momentum to continue in metro Phoenix in the coming months and years as developers deliver best-in-class, modern industrial product to meet the growing demand from large corporate tenants.”
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