Alex Done Deals: Stos Partners completes $7.2 million sale of 25,250-SF industrial complex on Phoenix, AZ acquired in March 2022 for $4.45 million
PHOENIX, AZ – Stos Partners, one of the most active commercial real estate investment and management firms, has announced the successful sale of a 28,520 -square-foot industrial complex located on 1.96 acres at 2757 E. Chambers Street in Phoenix, Arizona to The Sacket Family Trust for $7.2 million.
Stos Partners has now sold properties valued at more than $55 million in 2022.
Stos Partners acquired the property in March 2022 for $4.45 million. Led by Principal and Founder CJ Stos, Partner Jason Richards, Executive Vice President Jay Boyle and Vice President of Asset Management Travis Gorzeman, the company implemented a capital improvement program, stabilizing and re-tenanting the asset.
“The Phoenix industrial market has seen great demand for industrial space especially with smaller requirements of under 100,000 square feet,” says CJ Stos, Principal at Stos Partners.
“Our team identified this asset’s value during the initial acquisition in 2022. Through deep relationships with local brokers, we were able to secure a buyer in a timely manner.”
“This market saw continued demand for shallow-bay and mid-bay space in the third quarter according to JLL’s Q3 Phoenix Industrial Report,” said Richards. “During the period, the market saw 40 new leases collectively amounting to more than 2.3 million square feet.”
The property is ideally located near the I-10 Freeway and Sky Harbor Airport, providing accessibility for transport and logistics.
Competitive building features include 22-foot clear height, secured yard, abundant power, wrap-around access and signage.
Stos Partners was represented by David Wilson and Carter Wilson of Daum Commercial. Alexey Zabolotskikh of Lee & Associates represented the buyer in the transaction.
About Stos Partners
Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors.
With a track record spanning nearly $1.7 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through value-add acquisitions and strategic repositioning of industrial and multifamily assets of both institutional and small-to-mid-cap commercial properties.
Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably.
Article source: alex-donedeals.blogspot.com