ViaWest Sells Gilbert Industrial Property, Highlighting Owner-User Demand in Phoenix Market

ViaWest Group has completed the sale of a 13,547-square-foot industrial building in Gilbert, Arizona to an owner-user buyer through the Phoenix office of JLL. The $3,589,955 transaction represents a strategic divestiture from a six-building industrial portfolio acquired by ViaWest in February 2024, highlighting a growing preference among operators to own rather than lease industrial space in the rapidly expanding metro Phoenix market.

The flex industrial building located at 2020 W. Guadalupe Road features 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. Situated in southwestern Gilbert less than two miles from the US 60 Superstition Freeway, the property benefits from its strategic location in the East Valley, an area experiencing vigorous expansion in technology, advanced manufacturing, and aerospace sectors. ViaWest Group Senior Vice President Alex Hondros noted 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, BAM Elite LLC. Moore emphasized the scarcity of stand-alone flex buildings in the sub-50,000-square-foot category throughout metro Phoenix, noting that initial marketing efforts for the property as a lease opportunity consistently generated stronger interest toward purchasing rather than leasing. This trend underscores the long-term value perception that both buyers and sellers see in the East Valley industrial market.

The remaining five properties in ViaWest's East Valley portfolio demonstrate strong market performance, with nearly 100% occupancy across locations at 955, 1171, and 1191 N. Fiesta Blvd., and 2075 and 2135 W. Obispo Ave. Only one building at 2135 W. Obispo Ave. has approximately 69,000 square feet available and is currently marketed for sale or lease, with Larsen and Moore serving as exclusive brokers. The original portfolio acquisition represented a strategic real estate investment totaling 428,427 square feet across six buildings, positioning ViaWest to capitalize on the East Valley's quality of life attributes and economic expansion. For more information about JLL's Phoenix operations, visit https://www.jll.com.

This transaction occurs within a robust Phoenix commercial real estate environment where JLL's local team completed nearly 50.5 million square feet in lease and sale transactions during 2024, representing more than $2.8 billion in total transaction volume. The firm also managed approximately 18 million square feet of space and directed 36 projects through its Project and Development Services division. The successful sale of the Gilbert industrial property reinforces the strength of owner-user demand in metro Phoenix's industrial sector and demonstrates ViaWest's active portfolio management strategy in one of the Southwest's most dynamic real estate markets.