June 29, 2020 Comments (0) Views: 260 Phoenix, Phoenix & Southwest News

Westcore Acquires Industrial Facility in Chandler for $38M

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Industrial real estate acquisition development and asset management firm Westcore has acquired a 164,486-square-foot industrial facility in Chandler. The sales price was $38 million.

Located at 2550 North Nevada St., the warehouse is currently fully leased to a global e-commerce company. The facility features 30-foot clear heights, ESFR sprinkler systems and a newly designed and constructed office space.

Jeff Chiate, Will Strong and Mike Adey of Cushman & Wakefield represented the seller, Greenlaw, in the transaction, with support from Steve Larsen of JLL.

“We’ve purchased several industrial properties in Phoenix this year, partly because the city has fared well through current upheaval, with its Chandler submarket remaining very active,” said Hack Adams, managing director at Westcore. “Our ongoing relationship with Cushman & Wakefield’s industrial team created a mutual comfort level between Greenlaw and Westcore that helped bring this deal together in an uncertain time.”

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