Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of an 85,259 square foot premier light industrial property in a highly sought-after infill industrial submarket of Phoenix, Arizona.  The transaction was made for an undisclosed amount.

The property is located in Sky Harbor Centre, a 550-acre mixed-use master-planned enterprise zone created by the City of Phoenix to offer financial and tax incentives for businesses.  801 S. 16th Street is an irreplaceable infill location as it is situated less than a mile from Interstate-10 and Sky Harbor International Airport and is under five minutes from downtown Phoenix.  The asset is well positioned and provides optimal functionality for light industrial users, including ample clear height, heavy power, grade level doors, 100% HVAC space, and abundant parking.  A lack of available land and space options and escalating land and construction prices provide significant barriers to entry for competing products in the market.

“Sealy & Company is excited to be back in the Phoenix, Arizona market, and the Sky Harbor asset is a great addition to our growing industrial portfolio.  We plan to execute our proven hands-on management approach to unlock the property’s strong potential to provide an excellent yield,” says Jason Gandy, Sealy & Company’s Managing Director— Investment Services.  ­­

Davis Gibbs, Director – Investment Services, and Mr. Gandy led the transaction for Sealy & Company.  Will Strong of Cushman & Wakefield represented the seller.