Phoenix Industrial Portfolio Trades for $12M

Lee & Associates brokered the sale of seven industrial assets totaling 95,000 square feet. The portfolio is fully leased to Horizon Distributors Inc. for five years.

Headshots of Principals Stein Koss and Tom Louer of Lee & Associates Arizona
Headshots of Principals Stein Koss and Tom Louer of Lee & Associates Arizona

Lee & Associates brokered the sale of a seven-building industrial portfolio in Phoenix. A California-based partnership, Luke Marley LLC, bought the properties for $12.5 million from Delcor LLC. Principals Stein Koss and Tom Louer of Lee & Associates represented both parties in the transaction. Earlier this year, the firm won a leasing and management contract for Maryland Corporate Center, a 224,000-square-foot office building in Lanham, Md.

The industrial assets are currently fully leased for five years to Horizon Distributors Inc. “If these properties became vacant, they would garner prospective tenant interest because they each have fenced and paved yards, are strategically located and offer proximity to a freeway,” said Koss in a prepared statement. The portfolio, totaling 95,836 square feet on 12.95 acres of land, consists of:

  • 8746 W. Kelton Lane, Peoria comprising 8,750 square feet on 1.25 acres;
  • 15517 N. 77th St., Scottsdale comprising 8,750 square feet on 1.26 acres;
  • 4055 W. Saturn Way, Chandler comprising 5,300 square feet on .86 acres;
  • 201 W. Juanita, Mesa comprising 9,924 square feet on 1.97 acres;
  • 5214 S. 30th St., Phoenix comprising 42,138 square feet on 5.10 acres;
  • 41802 N. Vision Way, Anthem comprising 10,009 square feet on 1.31 acres;
  • 4740 N. La Cholla Blvd., Tucson comprising 10,965 square feet on 1.2 acres.

Image courtesy of Lee & Associates