ViaWest Group has bought Sight Logistics Park, a Class A industrial park spanning 357,103 sq. toes throughout two buildings in Tempe, Ariz. JLL brokered the deal on behalf of the vendor.
Pacific Coast Capital Companions issued a $40.2 million building mortgage in 2021, in keeping with CommercialEdge knowledge, and the economic park got here on-line two years later.
The campus’ improvement was a conversion from an workplace asset, which beforehand served because the headquarters of tech firm Perception Enterprises. A three way partnership led by ViaWest group acquired it in a $26.9 portfolio deal 4 years in the past.
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Situated at 6840 and 6860 S. Harl Ave., Sight Logistics Park is 7 and 14 miles from downtown Tempe and Phoenix, respectively. The infill campus has frontage alongside Interstate 10, whereas U.S. Route 60 is 2 miles away.
The services measure 201,187 and 155,916 sq. toes. Options embody 32-foot clear heights, 66 dock-high doorways and 10 grade-level doorways, in addition to a 200-foot truck courtroom.
At closing, the park was 88 p.c leased. The tenant roster consists of nVent, Daikin, Rentex and Provide Chain Options. The latter inked an settlement to occupy 156,751 sq. toes on the campus final yr.
JLL Senior Managing Director Ben Geelan and Senior Director Greer Oliver, in addition to Affiliate Connor Nebeker-Hay, brokered the deal on behalf of ViaWest Group.
ViaWest owns and manages greater than 12.4 million sq. toes of area. In February final yr, it made one other, $71 million buy in metro Phoenix, whereas in December it bought an industrial asset in Salt Lake Metropolis.
Phoenix funding retains momentum
In the course of the first quarter, traders traded 2.9 million sq. toes of business product—up 3.6 p.c year-over-year—throughout metro Phoenix, in keeping with CommercialEdge knowledge. The market’s industrial funding quantity clocked in at $394 million year-to-date by way of March.
A number of noteworthy offers closed throughout the first three months of 2025. BKM Capital Companions bought a portfolio from Starwood Capital Group for $156.8 million. A month earlier than that, LBA Logistics paid $39 million for a 220,240-square-foot asset bought by Echo Actual Property and Grandview Companions.
