RREEF Pays $33 Million for 225,000-SF Industrial Property in Phoenix
August 6, 2021 | James Sprow | Blue Vault
RREEF Property Trust has paid $33 million, or $146.67/sf, for Hub 317, a 225,000 square-foot industrial property in Phoenix
The non-traded REIT purchased the property from a venture of Confluent Development and DPC Cos., both of Denver, in a deal brokered by Cushman & Wakefield.
The property, at 317 South 48th St., opened in 2018 and has 24- to 32-foot clear heights, 25 dock-high doors, nine ground-level doors and 290 parking spaces. It is about six miles east of downtown Phoenix and three miles east of Phoenix Sky Harbor International Airport.
Source: Phoenix Business Journal
