{"id":1004697525,"date":"2024-01-12T03:07:56","date_gmt":"2024-01-12T11:07:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004697525"},"modified":"2024-01-12T07:54:10","modified_gmt":"2024-01-12T15:54:10","slug":"link-logistics-lasalle-expand-phoenix-industrial-holdings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/","title":{"rendered":"Link Logistics, LaSalle Expand Phoenix Industrial Holdings"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a34629bca471&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1509\" height=\"1132\" data-attachment-id=\"1004697526\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/canal-crossing\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg\" data-orig-size=\"1509,1132\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC3411&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1691865131&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;8.38&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.00125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Canal Crossing\" data-image-description=\"&lt;p&gt;Canal Crossing is a 155,144-square-foot facility in Phoenix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 2015-completed Canal Crossing is 5 miles from Pheonix Sky Harbor International Airport. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg\" alt=\"Canal Crossing in Phoenix.\" class=\"wp-image-1004697526\" style=\"aspect-ratio:4\/3;object-fit:cover;width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg 1509w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1509px) 100vw, 1509px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 2015-completed Canal Crossing Logistics Center is 5 miles from Phoenix Sky Harbor International Airport. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Bixby Land Co.<\/strong> has sold two last-mile industrial properties in Phoenix totaling 491,152 square feet, CommercialEdge data shows. <\/p>\n\n\n\n<p><strong>LaSalle Investment Management<\/strong> and <strong>Link Logistics<\/strong> acquired the fully leased assets in separate transactions. <strong>Cushman &amp; Wakefield<\/strong> brokered the deals and provided leasing advisory.<\/p>\n\n\n\n<p>LaSalle acquired Canal Crossing, a 155,144-square-foot facility featuring 30-foot clear heights, 130-foot truck courts, along with 37 dock-high loading doors and two drive-in doors. The 2015-completed property is at 5670 S. 32nd St. in the Airport submarket and provides easy access to interstates 10 and 17 and several other major thoroughfares.<\/p>\n\n\n\n<p>The asset previously traded in 2015 for $14.7 million, according to CommercialEdge data, when Bixby purchased it from Conor Commercial. A LKQ Corp. subsidiary is the sole tenant of the 10-acre property.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">What\u2019s Next for Industrial Real Estate?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Link Logistics bought Riverside @ 51, a 336,038-square-foot warehouse featuring 99 dock-high doors, six drive-in doors, 30-foot clear heights and a 135-foot truck court. Completed in 2007, the distribution center is at 2300 S. 51st Ave. in the Southwest Valley submarket. Downtown Phoenix is 7 miles away, while Phoenix Sky Harbor International Airport is some 11 mile southeast.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a34629bcc2c6&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1599\" height=\"1199\" data-attachment-id=\"1004697527\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/riverside-51st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg\" data-orig-size=\"1599,1199\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC3411&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1691868360&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;8.38&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.066666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Riverside 51st\" data-image-description=\"&lt;p&gt;Riverside @ 51 is a 336,038-square-foot facility in Phoenix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Riverside @ 51 is some 14 miles from Canal Crossing. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg\" alt=\"Riverside @ 51 is a 336,038-square-foot facility in Phoenix.\" class=\"wp-image-1004697527\" style=\"aspect-ratio:4\/3;object-fit:cover;width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg 1599w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Riverside-51st.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1599px) 100vw, 1599px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Riverside @ 51 is some 14 miles from Canal Crossing. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>This asset last changed hands in 2018, when Bixby paid $27.2 million to Pacifica Real Estate Group, the same source shows. Tenants at the 19-acre property include Frito-Lay, Nivel Parts &amp; Manufacturing and Olympian Worldwide.<\/p>\n\n\n\n<p>The Cushman &amp; Wakefield team consisted of Executive Vice Chair Will Strong, Senior Director Kirk Kuller, Director Michael Matchett and Senior Associate Molly Hunt. The leasing advisory team comprised Vice Chairs Mike Haenel, Andy Markham and Phil Haenel, together with Senior Associate Foster Bundy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-s-steady-transaction-volume\">Phoenix\u2019s steady transaction volume<\/h2>\n\n\n\n<p>Transactions in Phoenix amounted to $2 billion through the first 11 months of last year, the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/transformative-shifts-a-recap-of-2023-in-the-dynamic-industrial-sector\/\">CommercialEdge industrial report<\/a> shows. Assets traded at $158 per square foot on average, considerably higher than the $130 national figure.<\/p>\n\n\n\n<p>In one of the metro&#8217;s most notable deals of last year, Prologis paid $184 million for <a href=\"https:\/\/www.commercialsearch.com\/news\/prologis-pays-184m-for-phoenix-area-industrial-campus\/\">a 2.7 million-square-foot industrial park<\/a> in Goodyear, Ariz. The transaction was, at the time, Arizona\u2019s largest multi-building industrial park sale.<\/p>\n\n\n\n<p>In another sizable transaction, ViaWest Group partnered with Walton Street Capital in a <a href=\"https:\/\/www.commercialsearch.com\/news\/viawest-group-jv-pays-98m-for-phoenix-industrial-portfolio\/\">$97.8 million portfolio acquisition<\/a>. The six assets encompass some 587,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cushman &#038; Wakefield brokered the two transactions.<\/p>\n","protected":false},"author":3355,"featured_media":1004697526,"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":[33158,32799,33722,51531],"class_list":["post-1004697525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-bixby-land-company","tag-cushman-wakefield","tag-lasalle-investment-management","tag-link-logistics"],"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>Link Logistics, LaSalle Expand Phoenix Industrial Holdings - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Bixby Land Co. has sold two last-mile industrial properties in Phoenix totaling 491,152 square feet to LaSalle and Link Logistics.\" \/>\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\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Link Logistics, LaSalle Expand Phoenix Industrial Holdings\" \/>\n<meta property=\"og:description\" content=\"Bixby Land Co. has sold two last-mile industrial properties in Phoenix totaling 491,152 square feet to LaSalle and Link Logistics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/\" \/>\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=\"2024-01-12T11:07:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-12T15:54:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Canal-Crossing.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1509\" \/>\n\t<meta property=\"og:image:height\" content=\"1132\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\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\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/link-logistics-lasalle-expand-phoenix-industrial-holdings\/\",\"name\":\"Link Logistics, LaSalle Expand Phoenix Industrial Holdings - 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