ViaWest Sells Gilbert Industrial Asset in $3.6M Owner-User Deal

ViaWest Group, a prominent Phoenix-based commercial real estate firm, has successfully sold a 13,547-square-foot industrial building in Gilbert, Arizona for $3,589,955 through the Phoenix office of JLL, which represented the seller in this strategic transaction. The property, located at 2020 W. Guadalupe Rd., 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, positioned advantageously less than two miles from the US 60 Superstition Freeway. This sale represents a significant component of ViaWest's broader six-building industrial portfolio acquisition completed in February 2024, totaling 428,427 square feet across metro Phoenix's rapidly expanding East Valley region.

The transaction highlights a notable market trend where industrial operators increasingly prefer ownership over leasing, particularly for stand-alone flex buildings in the sub-50,000-square-foot category that are becoming scarce in the Phoenix metropolitan area. JLL Vice Chairman Steve Larsen and Managing Director Jason Moore, key players in this deal, noted that despite initial marketing efforts focused on leasing, buyer interest consistently gravitated toward purchase opportunities, reflecting strong confidence in the long-term value of East Valley industrial properties. The buyer, BAM Elite LLC, was represented by Lee & Associates Principal Conner Lee, while ViaWest Group Senior Vice President Alex Hondros emphasized how this strategic divestment provided an opportunistic return to investors while enabling a successful owner-user to continue their growth trajectory in this dynamic market.

This transaction underscores the robust demand for industrial real estate in Phoenix's East Valley, an area experiencing vigorous expansion in technology, advanced manufacturing, and aerospace sectors. The remaining five properties in ViaWest's portfolio are nearly 100% leased, with only one building at 2135 W. Obispo Ave. offering 69,000 square feet available for sale or lease, further demonstrating the tight market conditions. For more comprehensive coverage of real estate developments and market insights, readers can explore JLL's newsroom, which provides extensive resources on commercial property trends and transactions across multiple sectors including office, industrial, retail, healthcare, and data center properties.