JLL Closes $24M Phoenix Industrial Deal
ByJLL negotiated a $24.5 million industrial portfolio sale on behalf of previous owner, The Hewson Co. The four properties, which are located in Scottsdale and Tempe, Ariz., have 266,607 square feet combined, and are 96 percent occupied. The buyer is TA Realty.
“Both the Tempe and Scottsdale submarkets benefit from low vacancy rates and strong rental rate growth. The quality of the assets and tenant diversity made this portfolio an exceptional opportunity for investors,” said Mark Detmer, JLL managing director.
In addition to Detmer, the other brokers involved in the transaction are Managing Directors Bo Mills and Bill Honsaker, Senior Vice President Steve Larsen and Vice President Ryan Sitov. The team has recently closed on another Phoenix industrial portfolio deal in July…
