PepsiCo Building in Phoenix Trades
The facility is part of a 150-acre industrial campus.
Cohen Asset Management has purchased Building B of Peoria Logistics Park, a 157,000-square-foot Class A industrial building located at 7575 West Golden Lane in Peoria, Ariz. Prior to opening, the facility was entirely preleased to Frito Lay; PepsiCo Real Estate, an affiliate of the former tenant’s parent company PepsiCo Inc., remains its sole tenant.
The recently opened property is the second installment of the first phase, out of a planned eight-building, 150-acre build-to-suit industrial campus being developed by the seller of Bulding B, VanTrust Real Estate.
Building B broke ground on 17.5 acres in April of 2022, and was designed by the Butler Design Group, with Willmeng Construction providing contracting services. At full build out, the campus could potentially accommodate eight buildings measuring between 100,000 and 600,000 square feet, making it the largest speculative development in the Peoria industrial submarket.
Situated less than 1 mile from U.S. Route 60 and within 2 miles of Phoenix Loop 101, Peoria Logistics Park offers quick access to much of metro Phoenix.
Cohen Asset Management’s recent Phoenix acquisitions
The purchase of Building B in Peoria Logistics Park is the Los Angeles-based buyer’s latest in a string of acquisitions around metro Phoenix.
In 2022, the firm picked up eight assets around the city including an 862,622-square-foot property in Buckeye leased to Funko Inc., as well as a 405,656-square-foot facility in Avondale. According to CommercialEdge information, the owner’s portfolio in the Valley of the Sun totals more than 7 million square feet.