Maryland-based Realterm Logistics acquired a 75,000-square-foot warehouse at 10950 W. Northview Avenue in Glendale. The building sits on 6.4 acres and has a combination of 14 dock-high and ground-level doors.
“This final-mile warehouse is well located in the Glendale submarket of Phoenix, which is experiencing rapid population growth,” said Blair Duncan, associate vice president of Western Region Acquisitions. “This property is a valuable addition to the portfolio and opens the door to new relationships and continuing partnerships with future tenants.”
The warehouse has an efficient combination of dock-high loading positions and drive-in doors that provide a well-organized layout for high flow-through users. Additionally, the warehouse has an evaporative cooling system that works better than refrigerant-based cooling systems in the dry heat of Arizona by evaporating moisture and absorbing heat. The property can conveniently service the greater Phoenix market with easy access to Arizona State Route 101 and U.S. Route 60. The property also features 6,591 square feet of office space and a large paved and secured yard for future expansion.
“We are excited to add this highly functional final-mile warehouse in the fast-growing Phoenix MSA to our portfolio. We feel the combination of the property’s size, location and features will make it desirable to a host of occupiers,” said Ed Brickley, managing director and senior fund manager.