Indus Realty Trust has recently acquired Phoenix Airport Logistics, a warehouse and distribution center spanning 393,484 square feet in the airport submarket of Phoenix. The purchase price for this property was $72.4 million and it was fully leased to five tenants at the time of sale, including Amazon. CBRE represented Indus in this transaction while Cushman & Wakefield advised the seller.
According to Commercial Edge, prior to its recent sale, Pacific Coast Capital Partners had originated a loan worth $27.2 million on this property back in 2020. The last time it changed hands was in 2019 when Principal Real Estate Investors sold it for $38.8 million.
This distribution center is located at 3333 S Seventh St and became operational in 2016 with its prime location near both downtown Phoenix and Sky Harbor Airport.
Specializing primarily in logistics properties, INDUS Realty Trust currently owns or holds majority ownership over a portfolio consisting of 55 properties as well as projects under development that collectively span an impressive total area of approximately nine point three million square feet across various locations.
