PHOENIX, ARIZ. (December 15, 2021) – A 95,180 SF freezer/cooler/dry warehouse in which Trader Joe’s has been a long-time tenant was purchased by the popular grocery purveyor for $8.75 million; NAI Horizon represented the seller, a family trust from California.
NAI Horizon Senior Vice President Isy Sonabend and Executive Vice President Mark Wilcke represented the seller, the Smith Family Trust of Temecula, California. Trader Joe’s has been the tenant at the property, 10401 W. Van Buren St., in Tolleson, Arizona, since 2012.
Trader Joe’s exercised its purchase option and closed on the asset on Dec. 6.
“It’s been exciting to be a part the transformation of the Metro Phoenix industrial market from when we first executed the lease with Trader Joe’s until today,” Wilcke said. “The strategic and economic value of this asset made purchasing this real estate the worthy decision to make.”
Built in 1996, the refrigerated/cold storage warehouse sits on a 353,499 SF lot. It is located at SWC Van Buren Street and 104th Avenue with easy access to Loop 101 and I-10 full diamond interchanges.
It features 46,000 SF of racked freezer/cooler warehouse space, ± 40,100 SF of fully racked dry warehouse space and a ± 6,400 SF office. It includes a secured concrete truck court and a storage yard.
Rob Stephens with NGKF represented the buyer.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, providing Brokerage and Property Management Services for local, national and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 300 offices worldwide. For more information visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions and a gross revenue of $1.5 billion.
NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more visit www.naiglobal.com.