{"id":1004673502,"date":"2023-07-26T04:35:12","date_gmt":"2023-07-26T12:35:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004673502"},"modified":"2023-07-26T04:38:53","modified_gmt":"2023-07-26T12:38:53","slug":"newly-renovated-phoenix-industrial-facility-trades-for-23m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newly-renovated-phoenix-industrial-facility-trades-for-23m\/","title":{"rendered":"Newly Renovated Phoenix Industrial Facility Trades for $23M"},"content":{"rendered":"<div id=\"attachment_1004673504\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/4150SR1-e1690373771220.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004673504\" data-attachment-id=\"1004673504\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newly-renovated-phoenix-industrial-facility-trades-for-23m\/4150sr1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/4150SR1-e1690373771220.jpg\" data-orig-size=\"1200,902\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;L1D-20c&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1670505123&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;10.26&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"4150SR~1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/4150SR1-e1690373771220.jpg?w=1024\" class=\"wp-image-1004673504 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/4150SR1-e1690373771220.jpg?w=300\" alt=\"4150 S. Riverpoint Parkway\" width=\"300\" height=\"226\"><\/a><p id=\"caption-attachment-1004673504\" class=\"wp-caption-text\">4150 S. Riverpoint Parkway. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p><\/div>\n<p><strong>FM Industries<\/strong>, a manufacturer of components and assemblies for the semiconductor industry, has purchased a 132,318-square-foot industrial facility in Phoenix for $23 million. <strong>Cushman &amp; Wakefield<\/strong> negotiated on behalf seller <strong>Stonelake Capital Partners<\/strong>, and also provided leasing services. The buyer will fully occupy the asset.<\/p>\n<p>Located at 4150 S. Riverpoint Parkway, the two-story manufacturing building includes 24-foot clear heights, seven grade level doors, an HVAC and ESFR sprinkler systems, a passenger elevator, 89,859-square-foot floorplates, a 19,400-square-foot office component and 664 parking spots. Built in 2002, the property recently underwent an extensive interior and exterior renovation program.<\/p>\n<hr>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/semiconductor-boom-continues-to-boost-cre\/\">Semiconductor Boom Continues to Boost CRE<\/a><\/p>\n<hr>\n<p>Situated on a nearly 8-acre lot within Phoenix\u2019s Airport submarket, the concrete building provides easy access to interstates 10 and 17, as well as to U.S. Route 143. The facility is 4 miles from Phoenix Sky Harbor International Airport, 6 miles from downtown Phoenix, 11 miles from Scottsdale, Ariz., and within 14 miles of Mesa, Ariz.<\/p>\n<p>Cushman &amp; Wakefield\u2019s team of Executive Managing Director Phil Haenel and Senior Associate Foster Bundy negotiated on behalf of the seller, while the company\u2019s Vice Chairmen Mike Haenel and Andy Markham provided local market advisory.<\/p>\n<p>Last week, Cushman &amp; Wakefield also assisted <a href=\"https:\/\/www.commercialsearch.com\/news\/westcore-pays-93m-for-phoenix-area-campus\/\">Westcore Properties in obtaining a $73.3 million loan<\/a> for the acquisition of an industrial campus in Waddell, Ariz. The 906,125-square-foot, two-building complex changed hands for $93 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buyer will use the entire building to expand its manufacturing capabilities for the semiconductor industry. <\/p>\n","protected":false},"author":2991,"featured_media":1004673504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1601,15],"tags":[32799,33291],"class_list":["post-1004673502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-cushman-wakefield","tag-stonelake-capital-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newly Renovated Phoenix Industrial Facility Trades for $23M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"FM Industries has purchased a 132,318-square-foot recently renovated industrial facility in Phoenix for $23 million.\" \/>\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\/newly-renovated-phoenix-industrial-facility-trades-for-23m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newly Renovated Phoenix Industrial Facility Trades for $23M\" \/>\n<meta property=\"og:description\" content=\"FM Industries has purchased a 132,318-square-foot recently renovated industrial facility in Phoenix for $23 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newly-renovated-phoenix-industrial-facility-trades-for-23m\/\" \/>\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=\"2023-07-26T12:35:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-26T12:38:53+00:00\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/4150SR1-e1690373771220.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newly-renovated-phoenix-industrial-facility-trades-for-23m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newly-renovated-phoenix-industrial-facility-trades-for-23m\/\",\"name\":\"Newly Renovated Phoenix Industrial Facility Trades for $23M - 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