Phoenix, AZ – December 5, 2025 – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of a 44,335-square-foot industrial outdoor storage (IOS) facility located at 724 E Southern Pacific Drive in Phoenix, Arizona. The property, situated on approximately 3.41 acres, features multiple warehouse and canopy structures, office space and significant industrial infrastructure. The final sale price was $4,600,000.
Cushman & Wakefield’s Will Groves represented the seller, Capitol Engineering, in the transaction. The property was acquired by an owner/user.
"This sale marks the end of an era for Capitol Engineering, which had occupied this historic downtown industrial property since the 1940s," said Groves. "The property’s legacy and strategic location make it a rare opportunity for an owner/user to establish operations in one of Phoenix’s most established industrial corridors. Transactions like this highlight the ongoing demand for well-located IOS assets in the Phoenix market."
724 E Southern Pacific Drive offers six entry and exit points for efficient ingress and egress at the four-building property. Key features include grade level oversized doors, an 18-foot clear height and heavy industrial (A-2) zoning.
Located in the heart of Phoenix’s industrial district, 724 E Southern Pacific Drive offers immediate access to major transportation routes and is positioned for optimal connectivity to the broader metropolitan area. The site’s proximity to downtown Phoenix, arterial highways and regional infrastructure supports efficient logistics and distribution operations. The property’s central location also provides convenient access to a wide range of industrial services, suppliers and amenities, making it an ideal choice for owner/users seeking a strategic operational base in Phoenix.