CBRE National Partners recently announced it and other firms helped with the $83 million sale of Akimel Gateway in Chandler to EastGroup Properties, Inc.

“Despite the broader challenges some submarkets in Phoenix are facing, demand for buildings that can accommodate light industrial in the city’s heart remains strong,” said Rusty Kennedy, executive vice president at CBRE, in a news release.

At 17500 S. 40th Street, the Class A industrial park totals 519,112 sq. ft. and sits on 38.8 acres in west Chandler. The four buildings are strategically located alongside the Loop 202 freeway frontage with immediate access to the diamond interchange at 40th Street and Loop 202 (the South Mountain Freeway).

Built in 2022, each of the buildings are fully occupied and feature 139 dock-high doors, 24-to-32-foot clear height, 2,500- to 3,000-amp power and drive-around capabilities, with multiple points of ingress and egress.

The release says the Phoenix metro area continues to rank among the nation’s top projected rent growth markets with 20% projected over the next five years, according to CBRE Econometric Advisors.

CBRE research reports that the Phoenix industrial market registered 2.6 million square feet net absorption in the third quarter of 2024.

The metro recorded 8.2 million square feet gross absorption as large-scale tenant move-ins and renewals were signed across the market, the release states.

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