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MDC Realty Advisors Closes on Industrial Building in Phoenix, Arizona
MDC Realty Advisors is pleased to announce the acquisition of 5150 S. 48th Street in Phoenix, Arizona on behalf of private clients.
5150 S. 48th Street is an 83,000 square foot, infill industrial flex building that offers a very functional design that includes modern exterior finishes, 25’ clear height ceilings, an evaporative cooled warehouse, air-conditioned
offices and a secured yard area. The property is centrally located in the Airport Area Industrial District on the border of Phoenix and Tempe, minutes from the Sky Harbor International Airport with easy access to the I-10 freeway. The property is currently 100% leased to a single tenant at below market lease rates, with an opportunity to drive value in an extremely tight local leasing market.
The acquisition 5150 S. 48th Street is a continuation of MDC’s US industrial program of acquiring quality industrial assets in select US growth markets. The property will be managed by MDC as part of its growing US platform.
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