“Cohen Asset Management will benefit from the asset’s steady cash flow and favorable structural submarket fundamentals,” said Cullen Mahoney, a vice president with Trammell Crow Company Phoenix. “This deal also showcases how community goals can be aligned with financial objectives. We’re looking forward to the new VFW facility located on the site.”
The project’s state-of-the-art features include three points of ingress and egress with dedicated truck queuing lanes, 36’ clear height, cross-dock loading with 100% concrete truck courts, an ESFR sprinkler system, heavy trailer parking and automatic truck court gates. In addition, its location within the Southwest Valley submarket is highly desirable by occupiers with immediate access to Interstate 10, Interstate 17, the future Loop 202 and proximity to Sky Harbor International Airport. The project reached 100% occupancy in seven months following substantial completion. The venture donated 1.4 acres of land to the Veterans of Foreign Wars (VFW) for the development of a new facility.
C&W’s Will Strong represented the venture in the transaction.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2019, TCC had $10.9 billion of projects in process and $3.5 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2018 revenue). For more information visit www.TrammellCrow.com.
