PHOENIX — Cushman & Wakefield this week announced the sale of a newly renovated 65,531-square-foot industrial building located at 1503 W. San Pedro St. in Gilbert.
Dallas-based Stonelake Capital Partners acquired the vacant single-tenant property from Pallisides Trust for $11.5 million.
Phil Haenel, Mike Haenel and Andy Markham with Cushman & Wakefield’s Phoenix office represented both parties in the sale. The brokerage team was also retained by the buyer for Project Leasing.
“This is a high-quality freestanding industrial facility in an infill A+ location which has been renovated inside and out to suit modern industrial occupiers, and that is well equipped to accommodate a variety of needs,” said Phil Haenel, Executive Director. “The 1.5 acres of yard on the site also offers a unique opportunity to future tenants needing trailer parking or outside storage.”
The Phoenix Southeast Valley building is situated on five acres including 1.5 acres of excess yard. The property features about 9,000 square feet of office space, 24 feet of clear height, LED lighting, a secured yard with motorized gate, advanced security system, new asphalt parking lot, multiple cranes, air compressors and grade level loading.
The location is situated near the US 60 freeway and within 15 miles of the Phoenix Sky Harbor International Airport.
