Lincoln Buys Key Airport Industrial Project
Lincoln Property Co has beefed up its Phoenix industrial holdings by picking up Freeport Distribution Center. The property's a two-building, 219k SF warehouse complex in Southwest Phoenix off of Buckeye Road and 51st Avenue, and was purchased for an undisclosed sum from Atlanta-based IDI Gazeley Brookfield Logistics Properties and California-based BlackRidge Real Estate Group. While it already has tenants in place—including Moulding & Millwork and Hardwoods Specialty—Lincoln's David Krumwiede says there is still a value-add play to the buy, especially with its proximity to Phoenix Sky Harbor International Airport. HFF's Brett Tremaine, Anthony Brent, Ryan Martin, and Tom Simmons brokered the sale.