{"id":1004162374,"date":"2016-12-22T04:22:58","date_gmt":"2016-12-22T12:22:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004162374"},"modified":"2020-05-12T23:23:15","modified_gmt":"2020-05-13T07:23:15","slug":"hines-snags-1-2-msf-industrial-park-in-arizona","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-snags-1-2-msf-industrial-park-in-arizona\/","title":{"rendered":"Hines Snags 1.2 MSF Industrial Park in Arizona"},"content":{"rendered":"

By Veronica Grecu<\/em><\/p>\n

\"Southwest<\/a>

Southwest Industrial Center in Phoenix<\/p><\/div>\n

Phoenix<\/strong>\u2014Southwest Industrial Center, a Class A industrial park in Phoenix, landed a new owner.<\/p>\n

Hines recently purchased the asset from Hillwood Property Trust in a deal negotiated by JLL\u2019s Tony Lydon and Marc Herzberg. Though financial terms of the transaction were not disclosed, AZ Big Media<\/a><\/em> reported that the industrial park was acquired for $47.3 million.<\/p>\n

The deal involved a 684,000-square-foot logistics warehouse located at 7775 W. Buckeye Road in southwest Phoenix, as well as an adjacent development parcel that can accommodate a 567,000-square-foot building.<\/p>\n

\u201cOur logistics group is excited to continue our expansion in Phoenix with what we see as the Southwest Valley\u2019s premier property. With our recent investment in Goodyear and this new acquisition at Buckeye and 75th, we are pleased with our growth in the Southwest Valley. As part of our commitment to the Phoenix market, we are now targeting investments in the Sky Harbor airport submarket,\u201d said Hines\u2019 senior managing director Palmer Letzerich in prepared remarks.<\/p>\n

Built in 2014, the existing structure is 35 percent occupied by AmerisourceBergen, a drug wholesale company based in Chesterbrook, Pa. The new owners are aggressively targeting new tenants for the remaining space in the one-story building and have the flexibility to create build-to-suits of up to 570,000 square feet on the upcoming second building.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal involved a 684,000-square-foot logistics warehouse and an adjacent development parcel that can accommodate a 567,000-square-foot building.<\/p>\n","protected":false},"author":258,"featured_media":1004162375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21742,1601,15],"tags":[],"class_list":["post-1004162374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-latest","category-phoenix","category-west"],"acf":[],"yoast_head":"\nHines Snags 1.2 MSF Industrial Park in Arizona - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-snags-1-2-msf-industrial-park-in-arizona\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Snags 1.2 MSF Industrial Park in Arizona\" \/>\n<meta property=\"og:description\" content=\"The deal involved a 684,000-square-foot logistics warehouse and an adjacent development parcel that can accommodate a 567,000-square-foot building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-snags-1-2-msf-industrial-park-in-arizona\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-22T12:22:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T07:23:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Southwest-Industrial-Center-Phoenix.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"958\" \/>\n\t<meta property=\"og:image:height\" content=\"652\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Hines Snags 1.2 MSF Industrial Park in Arizona\",\"datePublished\":\"2016-12-22T12:22:58+00:00\",\"dateModified\":\"2020-05-13T07:23:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/\"},\"wordCount\":234,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/12\\\/Southwest-Industrial-Center-Phoenix.jpg\",\"articleSection\":[\"Deals\",\"Featured\",\"Industrial\",\"News\",\"Phoenix\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-snags-1-2-msf-industrial-park-in-arizona\\\/\",\"name\":\"Hines Snags 1.2 MSF Industrial Park in Arizona - 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With more than 10 years of experience in the real estate industry, she covers a variety of topics in residential and commercial real estate, including trends and industry news. Previously, she was involved in producing content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. 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