A 94,885 SF South Phoenix distribution building at
2021 E. Jones Ave. in Phoenix, sold for $5,125,000 or $54.01 per SF.

The
seller also negotiated a sale/leaseback term to occupy the facility for 16
months.

Matt McDougall, Principal with Lee & Associates represented the
buyer, Cohen Asset Management of Los Angeles, California and Andy
Cloud with DTZ represented the seller, Michael Lewis Company of
McCook, Illinois.

“This transaction helped the buyer satisfy a trade requirement as well
as acquire a highly-specialized distribution building located in the indemand
Sky Harbor Airport submarket,” said McDougall.

The facility started as a +40,000 SF building but has added nearly
55,000 SF in the late 1990s. It includes 30,000 SF of freezer/cooler space,
3,000 SF of offi ce, 2 grade level doors, 20 truckwells and clear height
ranges of 28’-32’. It is located just south and west of Phoenix Sky Harbor
International Airport and close to the Maricopa Freeway (Interstate 10).