Phoenix facility combining dry, chilled, frozen storage trades for $55 million

Article originally posted on CoStar on October 3, 2025

An industrial property specialist has acquired a Phoenix facility that combines three different types of storage spaces: dry goods, refrigerated space and freezer space.

Reich Brothers paid $55 million for the property at 625 South 27th Ave. in Phoenix, according to public records and the company. The seller was Cowley Cos. The 850,000-square-foot facility is located on 40 acres in West Phoenix.

The newly acquired facility marks Reich Brothers’ first property in the Phoenix market, Alex Reich, partner and managing director, told CoStar News. It has one of the largest rooftop solar-panel installations in Arizona, according to Cowley. Empire Power Systems installed the 2.4-megawatt solar-panel system.

Tenants include mattress manufacturer Southerland, trucking company J.B. Hunt, Assurance Moving and Storage, Pacific Refrigerated Services and Salad & Go, according to CoStar data.

Reich Brothers, based in White Plains, New York, plans to do some renovations to the facility, including mechanical upgrades and repairs, Reich added.

Reich Brothers has been expanding its portfolio nationwide. Last month, the firm bought a Stellantis auto parts distribution center in the Atlanta suburb of Morrow, Georgia, for $18 million. Also, last year, Reich Brothers paid $15.3 million for three industrial buildings in Riverside, California.