Cushman & Wakefield advises sale of a 393,484 SF state-of-the-art industrial asset in Phoenix Airport submarket

INDUS makes market entry with acquisition of fully leased, multi-tenant cross-dock building in prime location

Cushman & Wakefield announced the firm has advised the sale of Phoenix Airport Logistics, a 393,484-square-foot Class A warehouse/distribution building in Phoenix’s sought-after Airport submarket. Located at 3333 South 7th Street, the property was 100% leased to five tenants at the time of sale. The multi-tenant industrial asset was acquired by INDUS Realty Trust, Inc. (“INDUS” or the “Company”), a U.S.-based logistics real estate business.

Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt of the firm’s National Industrial Advisory Group facilitated the transaction as the exclusive real estate brokers.

“Phoenix Airport Logistics is a modern industrial facility with a highly functional buildout. The property is supported by a robust roster of diverse tenants, including a prominent global e-commerce/tech company. Additionally, the building’s prime location provides exceptional connectivity to key regional markets facilitating seamless transportation of goods and optimizing supply chain efficiency for tenants,” said Molly Hunt.

Built-in 2016, this cross-dock distribution center boasts a functional design and top-tier features, including a 36-foot clear height, 96 dock-high doors, and 62 trailer parking spaces. Strategically located near downtown Phoenix in the Sky Harbor Airport submarket, it offers quick access to both I-17 and I-10—two essential routes connecting the entire Phoenix metro area.

Major logistics companies and third-party logistics (3PL) providers have a significant presence in the Airport submarket, utilizing the area as a hub for regional and national distribution.

“We are excited to enter the Phoenix market which continues to experience robust economic and population growth. This property, with a highly sought-after, infill location in the Sky Harbor Airport submarket, has strong existing tenancy and is well-positioned for future rent growth,” said Andre Ciani, INDUS’ Director of Acquisitions for the Phoenix region.

Michael Gamzon, President and CEO of INDUS added, “We are bullish on the long-term secular trends in the industrial sector, and with access to significant capital from our investors, Centerbridge, GIC, and ADIA, we remain focused on growing our platform through the acquisition and development of high-quality industrial properties in fast-growing and strongly performing geographic markets.”