{"id":1004730712,"date":"2024-09-30T04:01:21","date_gmt":"2024-09-30T12:01:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004730712"},"modified":"2024-09-30T04:35:03","modified_gmt":"2024-09-30T12:35:03","slug":"lasalle-buys-phoenix-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lasalle-buys-phoenix-industrial-asset\/","title":{"rendered":"LaSalle Acquires Phoenix Industrial Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" data-attachment-id=\"1004730718\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/buckeye85-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg\" data-orig-size=\"1024,768\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Buckeye85\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg\" alt=\"Exterior shot of Buckeye85, an industrial building in Phoenix.\" class=\"wp-image-1004730718\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Buckeye85-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Buckeye85 came online in 2023. <em>Image courtesy of LaSalle Investment Management<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>LaSalle Investment Management has acquired Buckeye85, an industrial building in Phoenix, on behalf of LaSalle Property Fund, its U.S. core open-ended investment vehicle. The previous owner was Lincoln Property Co. in conjunction with&nbsp;Goldman Sachs, according to CommercialEdge information.<\/p>\n\n\n\n<p>Completed in 2023, the 321,892-square-foot warehouse is fully leased to Tempur-Pedic. The pillow and mattress manufacturer <a href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-goldman-sachs-ink-full-building-industrial-prelease\/\">preleased the property<\/a> last year and uses it as a distribution center. The cross-dock industrial building features a 36-foot clear height, 91 dock-high doors and concrete truck courts.\u00a0<\/p>\n\n\n\n<p>The warehouse rises on 20 acres at 10333 W. Buckeye Road, at the southwest corner of 103rd Avenue and Buckeye Road\/MC-85 Highway in the Interstate 10 Corridor. The location is 2 miles from a full-diamond interchange at I-10 and 107th Avenue. Amazon, McKesson, PepsiCo, Kroger and Home Depot, among others, operate nearby.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-leading-the-nation-for-industrial-development\">Leading the nation for industrial development<\/h2>\n\n\n\n<p>For many years now, Phoenix has been <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-development-leads-the-u-s\/\">the country&#8217;s leading market for industrial development<\/a>. The metro\u2019s growth is propelled by high-tech sectors, including semiconductor manufacturing and data centers, infusing the area with advanced technology and innovation.<\/p>\n\n\n\n<p>This development surge boosts the local economy and enhances Phoenix\u2019s appeal as a hub for cutting-edge industries. DAUM Executive Vice President Chris Rogers, who specializes in Phoenix industrial assets, told <em>Commercial Property Executive<\/em> that the Valley&#8217;s industrial market remains a flagship destination for developers, owner-users and tenants.<\/p>\n\n\n\n<p>For instance, Amazon and Logistics Plus have signed new leases totaling more than 4 million square feet in the metro since the start of 2024, Rogers said. In one of the more recent deals, <a href=\"https:\/\/www.commercialsearch.com\/news\/amazon-expands-phoenix-footprint-with-1-2-msf-lease\/\">Amazon leased 1.2 million square feet<\/a> at a Prologis-owned business park.<\/p>\n\n\n\n<p>\u201cMeanwhile, nearly 40 million square feet of new industrial space has been delivered in 2024,\u201d Rogers added. \u201cDespite this significant growth, small-bay properties of 50,000 square feet or less have a vacancy rate of around 4 percent.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lincoln Property Co. developed this warehouse in conjunction with Goldman Sachs.<\/p>\n","protected":false},"author":3568,"featured_media":1004730718,"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":[34824,33435,33722,34930],"class_list":["post-1004730712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-daum-commercial","tag-goldman-sachs","tag-lasalle-investment-management","tag-lincoln-property-co"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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