Trammell Crow Company (TCC) and CBRE IM sold the Akimel Gateway industrial park in Chandler for million. The buyer was EastGroup Properties. CBRE National Partners’ Rusty Kennedy and Joe Cesta, along with Cooper Fratt, John Werstler, Tanner Ferrandi and Mike Parker, represented TCC and CBRE IM.

Situated at 17500 South 40th Street, the Class A industrial park totals 519,112 square feet and sits on 38.8 acres. The four buildings are located alongside the Loop 202 freeway frontage with immediate access to the diamond interchange at 40th Street and Loop 202.

Built in 2022, each of the buildings is fully occupied.

CBRE reports that Phoenix continues to rank among the nation’s top projected rent growth markets with 20% projected over the next five years. The Phoenix industrial market registered 2.6 million square feet of net absorption in Q3 2024. The metro recorded 8.2 million square feet gross absorption as large-scale tenant move-ins and renewals were signed across the market.