FAQ: ViaWest Industrial Building Sale in Gilbert, Arizona
Summary
ViaWest Group sold a 13,547-square-foot industrial building in Gilbert, Arizona for $3,589,955 to an owner-user buyer, highlighting the strong demand for ownership versus leasing in metro Phoenix's East Valley industrial market.
What is the main topic of this announcement?
ViaWest Group has sold a 13,547-square-foot industrial building in Gilbert, Arizona to an owner-user buyer for $3,589,955, demonstrating strong demand for property ownership in the metro Phoenix industrial market.
Why is this sale significant?
The sale highlights the growing demand among operators to own rather than lease industrial space in metro Phoenix, particularly for stand-alone flex buildings under 50,000 square feet which are in short supply.
Where is the sold property located?
The building is located at 2020 W. Guadalupe Rd. in Gilbert, Arizona, between Country Club Road and McQueen Drive, less than two miles from the US 60 Superstition Freeway.
What are the building specifications?
The flex industrial building includes approximately 9,500 square feet of office space and a 4,000-square-foot evaporative cooled warehouse with grade-level loading and 16’ clear height.
Who was involved in this transaction?
JLL Vice Chairman Steve Larsen and Managing Director Jason Moore represented ViaWest Group, while Lee & Associates Principal Conner Lee represented the buyer, BAM Elite LLC.
How does this property fit into ViaWest’s larger portfolio?
The building was part of a six-building, 428,427-square-foot industrial portfolio that ViaWest acquired in February 2024 as a strategic real estate investment in metro Phoenix’s East Valley.
What is the current status of the remaining ViaWest portfolio?
The balance of the ViaWest East Valley portfolio is nearly 100% leased across five properties, with only one building (2135 W. Obispo Ave.) having 69,000 square feet available for sale or lease.
Why did ViaWest decide to sell this particular building?
According to ViaWest Senior Vice President Alex Hondros, the sale allowed them to ’effectuate an opportunistic return to our investors by strategically exiting a piece of our portfolio’ while helping an owner-user continue their growth in the East Valley.
What market trend does this transaction reflect?
The deal reflects a trend where interest consistently trended toward buying rather than leasing, with both parties seeing long-term value in the East Valley’s technology, advanced manufacturing, and aerospace expansion.
Who can provide more information about the remaining available properties?
Steve Larsen and Jason Moore of JLL are the exclusive brokers for the remaining ViaWest portfolio properties and can provide more information about the available 69,000-square-foot building at 2135 W. Obispo Ave.
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