U.S. Harrison buys Phoenix industrial assets for $18 mln

U.S. industrial real estate firm Harrison Properties has purchased a 10-property industrial portfolio in Phoenix from real estate investment company Hibernia Capital Advisors LLC.

Harrison Properties paid $18 million, or $50 per square foot for the Class B and C industrial buildings, which have a total of 357,921 square feet ( sq ft) and range in size from 17,000 sq ft to 77,000 sq ft.

The assets are located at 1701-1735 W. Roosevelt St.; 902-922 and 800 N. 17th Ave.; 1728 W. McKinley St.; 1010 and 1333-1345 N. 22nd Ave.; and 1837-1843, 2102-2112, 2202-2210 and 2212 N. 23rd Ave.

At the time of the sale, the portfolio was 96 percent leased to current tenants including Strictly from Scratch, Mega Metals and Pierpont Manufacturing.