PHOENIX, Ariz. – December 6, 2024 – Cushman & Wakefield announced the firm has advised the sale of a freestanding industrial asset totaling 322,070 square feet in Tolleson (Phoenix), Arizona. Located at 7980-7990 West Buckeye Road, the single-tenant facility is fully leased on a long-term basis to a leading manufacturer of foodservice products.
The property was acquired for $48.83 million by SENTRE, a vertically integrated real estate investment firm headquartered in San Diego with extensive experience in office, industrial, retail and multi-family properties. The seller was Brennan Investment Group, a Chicago-based private real estate investment firm that acquires, develops, and operates industrial facilities throughout the U.S.
Cushman & Wakefield’s Private Capital Group in Phoenix consisting of Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the seller in the transaction.
Phil Haenel said, “This exceptional asset features a core, stabilized industrial building located in Southwest Phoenix, a dynamic submarket with robust industrial fundamentals fueled by strong tenant demand. With a strong credit tenant committed to the property for many more years together with its premier location and modern functionality, the asset is well-positioned for long-term investment success.”
Occupying over 15 acres of the most core, infill pocket in Phoenix with proximity to key demand drivers, the property benefits from immediate access to major transportation corridors in the market, such as the ever-growing I-10 corridor, offering connectivity to greater Phoenix, the Southwest U.S. and Southern California within a 6-hour drive time. Originally built in 1988 and expanded in 2010, the property also features near ±35-foot clear height, ample loading, and heavy power.
Foster Bundy added, “According to Cushman & Wakefield’s Q3 2024 industrial market report, the Southwest Valley recorded an impressive 7.3 million square feet of occupancy growth year-to-date, outperforming all other submarkets in the thriving Phoenix Metro area by a substantial margin. The surge in demand for warehouse and logistics space in the Southwest Valley is driven by its strategic access to major transportation hubs, including railroads and the I-10, I-17, Loop 101, and Loop 202 freeways.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit cushmanwakefield.com.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $5 billion in industrial real estate in 30 states. The company’s current portfolio spans 29 states and encompasses approximately 56 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 17 regional offices throughout the United States and the firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
About SENTRE
Founded in 1989, SENTRE is a vertically integrated real estate investment firm headquartered in San Diego with extensive experience in industrial, office, retail, and multi-family properties. SENTRE has acquired, developed and/or operated projects throughout the Western United States (and Mexico) totaling more than 12 million square feet and $4.5B in transactional volume. SENTRE also co-founded Vesta, a publicly traded industrial real estate company operating in Mexico (NYSE: VTMX) with a portfolio of over 43 million square feet valued at $3.6 billion.
For additional information, visit SENTRE.com
