CBRE Arranges $20 Million Sale of Class A Industrial Property in Phoenix

CBRE has announced the $20 million sale of a 101,794-square-foot industrial property located at 3302 West Washington Street in Phoenix. The property was acquired by IDI Logistics, marking its first industrial asset in the Phoenix metro.

CBRE’s Tanner Ferrandi, John Werstler and Cooper Fratt represented both the buyer, IDI Logistics, and seller, Atlas Capital Partners, in the transaction. The group will also serve as the listing agents on the property.

The vacant building features 32-foot clear height, 12 dock-high doors, four drive-in doors, a fully secured 140-foot truck court on 5.25 acres in south Phoenix.

“Phoenix continues to see strong demand for newly built Class A industrial facilities, especially those offering immediate access to major transportation corridors,” said Ferrandi, first vice president at CBRE. “The property is a great addition to IDI Logistics’ portfolio and represents the type of high-quality, smaller format, functional space that logistics users are actively seeking in today’s market.”

Strategically located within two miles of Interstates 10 (I-10) and I-17, and just nine miles from Phoenix Sky Harbor International Airport, the property provides access to major transportation corridors and regional distribution hubs.