Newly Renovated Phoenix Industrial Facility Trades for $23M

4150 S. Riverpoint Parkway. Image courtesy of Cushman & Wakefield

FM Industries, a manufacturer of components and assemblies for the semiconductor industry, has purchased a 132,318-square-foot industrial facility in Phoenix for $23 million. Cushman & Wakefield negotiated on behalf seller Stonelake Capital Partners, and also provided leasing services. The buyer will fully occupy the asset.

Located at 4150 S. Riverpoint Parkway, the two-story manufacturing building includes 24-foot clear heights, seven grade level doors, an HVAC and ESFR sprinkler systems, a passenger elevator, 89,859-square-foot floorplates, a 19,400-square-foot office component and 664 parking spots. Built in 2002, the property recently underwent an extensive interior and exterior renovation program.

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Situated on a nearly 8-acre lot within Phoenix’s Airport submarket, the concrete building provides easy access to interstates 10 and 17, as well as to U.S. Route 143. The facility is 4 miles from Phoenix Sky Harbor International Airport, 6 miles from downtown Phoenix, 11 miles from Scottsdale, Ariz., and within 14 miles of Mesa, Ariz.

Cushman & Wakefield’s team of Executive Managing Director Phil Haenel and Senior Associate Foster Bundy negotiated on behalf of the seller, while the company’s Vice Chairmen Mike Haenel and Andy Markham provided local market advisory.

Last week, Cushman & Wakefield also assisted Westcore Properties in obtaining a $73.3 million loan for the acquisition of an industrial campus in Waddell, Ariz. The 906,125-square-foot, two-building complex changed hands for $93 million.