Oct
19
Phoenix Industrial Asset Reaches Full Occupancy
ByJLL signed new tenants InVue and Aquafil, bringing Colony NorthStar’s industrial portfolio to full occupancy. The market’s record-low vacancy and all-time high absorption rates made for an attractive investment opportunity.
Colony NorthStar recently acquired a two-building Phoenix portfolio for $18.7 million—Reywest Commerce Center and Reywest Industrial Park. The properties are located at 3602 and 3555 W. Washington St., respectively.
At the time, the properties were 46 percent occupied. JLL’s Phoenix office completed a final lease, bringing both to full occupancy. The two firms have an ongoing relationship: JLL brokered the sale of another Phoenix industrial portfolio, for $39 million, earlier this year…
