JLL announced the sale of a 13,547-square-foot flex industrial building at 2020 W. Guadalupe Rd. in Gilbert, Arizona, to BAM Elite LLC, an owner-user, for $3,589,955. The property was part of a six-building, 428,427-square-foot industrial portfolio acquired by ViaWest Group in February 2024. The sale underscores a trend among operators seeking ownership over leasing in the metro Phoenix industrial market.
Located less than two miles from the US 60 Superstition Freeway, the building includes approximately 9,500 square feet of office space and a 4,000-square-foot evaporative cooled warehouse with grade-level loading and a 16-foot clear height. The asset sits in the southwestern portion of Gilbert, a key submarket in the East Valley known for growth in technology, advanced manufacturing, and aerospace.
ViaWest Group Senior Vice President Alex Hondros noted the strategic nature of the sale: “This sale allows a successful owner-user to continue their growth trajectory in the East Valley, just as we have. Identifying the immediate need for an owner-user to purchase a property allowed us to effectuate an opportunistic return to our investors by strategically exiting a piece of our portfolio.”
JLL Vice Chairman Steve Larsen and Managing Director Jason Moore represented ViaWest Group in the transaction. Lee & Associates Principal Conner Lee represented the buyer. Moore commented, “Stand-alone flex buildings in the sub-50,000-square-foot category are in short supply in metro Phoenix. We originally brought this ViaWest property to market as a lease, but interest unfailingly trended toward buying rather than leasing. This deal involved two parties who see the long-term value in the East Valley and want to be a part of it.”
The balance of ViaWest’s East Valley portfolio is nearly 100% leased across five properties: 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 for sale or lease, with Larsen and Moore of JLL serving as exclusive brokers.
JLL, a global commercial real estate and investment management company, employs over 600 professionals in Phoenix. In 2024, the Phoenix team completed nearly 50.5 million square feet in lease and sale transactions, with a total transaction volume exceeding $2.8 billion. For more information, visit JLL's website.
ViaWest Group, established in 2003, is a full-service commercial real estate investment, development, and property management firm with over $3.5 billion in aggregate transactions and 12.4 million square feet owned, managed, or under development. More details are available at viawestgroup.com.
