ViaWest picks up six warehouses outside Phoenix for $71M

Industrial cluster in Gilbert with 98% occupancy trades for $166 psf

ViaWest Group has picked up a 428,400-square-foot cluster of six warehouses east of Phoenix for $71.1 million.

The Phoenix-based investor bought the buildings at 955, 1171 and 1191 North Fiesta Boulevard, 202 West Guadalupe Road and  2075 and 2135 West Obispo Avenue, in Gilbert, the Phoenix Business Journal reported. The seller was undisclosed.

The deal for the warehouses, 7 miles southeast of Mesa and within a mile of each other west of Kokopelli Golf Club, works out to $166 per square foot.

ViaWest secured $53.2 million in financing from Chicago-based Walton Street Capital, according to Vizzda.

Brokers Mark Detmer, Greer Oliver, Ryan Sitov and Connor Nebeker-Hay of JLL Capital Markets represented the buyer. Steve Larson of JLL represented the unidentified seller. Brokers Kevin MacKenzie, Jason Carlos and Jarrod Howard of JLL procured the financing.

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When broken down by transaction, the buildings at 955 North Fiesta Boulevard and 202 West Guadalupe Road sold for $20.2 million. Buildings at 1171 and 1191 North Fiesta Boulevard sold for $21 million. And the buildings at 2075 and 2135 West Obispo Avenue traded for $29.9 million.

The properties were 98 percent occupied at the time of sale. The tenants of the buildings were not disclosed.

ViaWest, founded in 2003 by Steven Schwarz, has made more than $2.8 billion in deals for 70 properties across the West and has developed, managed or owned nearly 12 million square feet of commercial real estate, according to the company’s website.

— Dana Bartholomew

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