Stos Partners has recently acquired two vacant buildings in Phoenix for a total of $18.5 million. The properties, located at 236 and 240 North 48th Avenue, were purchased from LL Capital Investments. This marks Stos Partners’ seventh industrial acquisition in the Phoenix area.
Built in 1978, the first building at 240 North 48th Avenue offers a total of 83,200 square feet and can be divided into smaller units if desired. It also includes an office space of approximately3,450 square feet. The second building at236 North48th Avenue was constructed in1979and boasts11,636squarefeetof warehouse space with4 ,200squarefeetofofficearea.
Stos Partners plans to immediately begin making improvements to both buildings to enhance their functionality and attractiveness.
The transaction was facilitated by Phil Haenel,Gary Anderson,and Foster Bundyat Cushman & Wakefield.Gary AndersonandNik Vallensare leading the leasing efforts for these properties.
