So far in 2023, the Phoenix metro has seen about 81 industrial sales compared to 163 in the first part of 2022. Some of the most recent and largest sales in the Valley include a Circle K distribution center, a planned Frito-Lay distribution facility and a newly developed commerce park, among others. The 249,904-square-foot class A Circle K center sold for $38.2 million to Texas-based real estate investor Stonelake Capital Partners, investor Cohen Asset Management acquired a planned Frito-Lay distribution warehouse for $28.6 million, and a 130,422-square-foot facility also sold to CapRock Partners for about $12 million.
