PHOENIX — ViaWest Group, a Phoenix-based commercial real estate investment, development and property management firm, recently sold a building part of an East Valley industrial portfolio for nearly $3.6 million.
According to the Monday announcement, the sale of the 13,547-square-foot industrial building was to BAM Elite LLC for $3,589,955 and completed on behalf of ViaWest by the Phoenix office of JLL — global commercial real estate and investment management company.
“This sale allows a successful owner-user to continue their growth trajectory in the East Valley, just as we have,” ViaWest Group Senior Vice President Alex Hondros said in the announcement. “Identifying the immediate need for an owner-user to purchase a property allowed us to effectuate an opportunistic return to our investors by strategically exiting a piece of our portfolio.”
Details on the East Valley industrial building that ViaWest sold
The building is located in Gilbert off of Fiesta Boulevard and Guadalupe Road and is less than two miles from US 60 Superstition Freeway.
It consists of approximately 9,500 square feet of office space and an evaporative cooled warehouse with grade-level loading that is 4,000 square feet and has 16 inch clear height.
The building is part of a six-building industrial portfolio that ViaWest acquired in February 2024. The industrial portfolio is a total of 428,427 square feet.
JLL’s vice chairman, Steven Larsen, as well as its managing director, Jason Moore, represented ViaWest in the sale of the building.
“Stand-alone flex buildings in the sub-50,000-square-foot category are in short supply in metro Phoenix,” Moore said in the announcement. “We originally brought this ViaWest property to market as a lease, but interest unfailingly trended toward buying rather than leasing. This deal involved two parties who see the long-term value in the East Valley and want to be a part of it.”
