Distribution Warehouse in Phoenix Finds New Owner

By Liviu Oltean, Associate Editor

A 313,600-square-foot cross-dock distribution warehouse in Phoenix has found a new owner, according to a deal announced by Colliers International in Greater Phoenix.

The distribution center was acquired for $20.3 million by an affiliate of Los Angeles, Calif.-based Cohen Asset Management, which acquires, owns, develops, and manages industrial properties in multiple markets across the U.S.

Distribution Center – 4550 West Watkins St.

Located at 4550 West Watkins St. in the Riverside tax district, the center was developed by Kansas City Life and built by Sun State Builders of Phoenix. The facility features a clear ceiling height of 30 feet, 102 dock doors, and 7200 amps of available power. It is currently fully leased by OMCO Solar, a division of OMCO Holdings of Wickliffe, Ohio.

Don MacWilliam and Payson MacWilliam, executive vice presidents with Colliers International, negotiated the deal on behalf of the buyer and the seller. “Cohen Asset Management has been aggressively purchasing quality assets in Phoenix and this is a strong addition to the company’s portfolio,” Don MacWilliam said in a prepared statement.