Principal Buys Massive, Brand Spanking New Airport Market Property
Principal Real Estate Investors, a subsidiary of Principal Financial Group, acquired the 393k SF Opus Airport Industrial, a property developed by The Opus Group. “The Phoenix industrial market is extremely strong, especially for an infill project such as this due to land scarcity in the airport submarket," says Opus Development Co VP Sean Cummings.
On 23 acres near the Phoenix Sky Harbor International Airport, the next-gen facility offers 36-foot clear heights, 100% concrete, fully secured truck courts, 65 excess trailer stalls, two acres of excess land for parking or outside storage, and is HVAC-ready. The project will also be LEED Silver. Sean says it's the largest building in the submarket by more than 100k SF, and that Opus will bring more projects to the area in the near future.