ViaWest Sells Gilbert Industrial Property, Highlighting Owner-User Demand in Phoenix Market
ViaWest Group's sale of a Gilbert industrial building demonstrates strong demand for owner-occupied industrial space in metro Phoenix's East Valley, reflecting strategic portfolio management and market dynamics favoring ownership over leasing.
ViaWest Group has sold a 13,547-square-foot industrial building in Gilbert, Arizona, to owner-user buyer BAM Elite LLC for $3,589,955, representing a strategic divestiture from its six-building metro Phoenix industrial portfolio acquired last year. The transaction highlights growing demand among operators to own rather than lease industrial space in the rapidly expanding East Valley market.
The flex industrial building at 2020 W. Guadalupe Rd. includes approximately 9,500 square feet of office space and a 4,000-square-foot evaporative cooled warehouse with grade-level loading and 16-foot clear height. Located in southwestern Gilbert less than two miles from the US 60 Superstition Freeway, the property was part of a 428,427-square-foot portfolio ViaWest purchased in February 2024 as part of strategic real estate investment in the East Valley region known for technology, advanced manufacturing, and aerospace expansion.
ViaWest Group Senior Vice President Alex Hondros stated that the sale enables a successful owner-user to continue their growth trajectory in the East Valley while providing ViaWest with an opportunistic return to investors through strategic portfolio management. JLL Vice Chairman Steve Larsen and Managing Director Jason Moore represented ViaWest Group in the transaction, while Lee & Associates Principal Conner Lee represented the buyer.
Market dynamics played a significant role in the transaction, with Moore noting that stand-alone flex buildings under 50,000 square feet are in short supply across metro Phoenix. The property was initially marketed for lease, but interest consistently trended toward purchase options, indicating strong preference for ownership in the current market environment. Moore emphasized that both parties recognize long-term value in the East Valley market and want to participate in its growth.
The remaining ViaWest East Valley portfolio maintains nearly 100% occupancy across five properties at 955, 1171 and 1191 N. Fiesta Blvd., and 2075 and 2135 W. Obispo Ave. Only one building at 2135 W. Obispo Ave. has 69,000 square feet available and is currently marketed for sale or lease, with Larsen and Moore serving as exclusive brokers. JLL's Phoenix operations completed nearly 50.5 million square feet in lease and sale transactions totaling over $2.8 billion in 2024, while managing almost 18 million square feet of space and directing 36 projects through Project and Development Services. For more information, visit https://www.jll.com.