HNWIs sell industrial property in Arizona
Real Estate - SEPTEMBER 7, 2022

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HNWIs sell industrial property in Arizona

by Released

San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has acquired Cimmaron Industrial Park in the Scottsdale Airport Industrial submarket of the Phoenix metro area.

GSR is purchasing the property from a partnership of two high-net-worth investors (HNWIs). As part of the transaction, GSR will retain the in-place property management company, Greater Airpark Realty Services (GARS). GARS will handle day-to-day operations, construction management, and property accounting.

Cimmaron comprises 94,800 rentable square feet of industrial space across a five-building, separately parceled  site totaling 6.73 acres. All five buildings were constructed in 1980 and have been well maintained. The property provides small businesses with class-leading, functional industrial suites, with approximately 40 percent office and showroom space and 60 percent warehouse space.

Cimmaron is in one of the most affluent, supply

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