Baron Properties Expands Industrial Platform With Seven Acquisitions Across Phoenix and Las Vegas

Baron Properties (“Baron”), a vertically integrated real estate owner and operator, today announced the acquisition of seven small bay industrial properties totaling 427,040 square feet across greater Phoenix, Arizona and Las Vegas, Nevada. The portfolio is fully leased to a diversified mix of tenants in the distribution, logistics, aerospace, food distribution, semiconductor, building products, and industrial supply industries. The Phoenix assets include two multi-tenant buildings in the Sky Harbor submarket, two Class A buildings in western Phoenix, and two mission-critical buildings in Chandler and Mesa. This transaction advances Baron’s strategy to invest in small bay industrial assets situated in high-growth, supply-constrained markets across the Mountain West U.S.

"Today's acquisition advances our core strategy of investing in small bay industrial projects in key markets that benefit from strong population growth, strong job growth, and robust tenant demand drivers" said Tommy Dirks, Managing Director of Industrial at Baron. "We are proud to expand our industrial platform with this portfolio and believe our hands-on, vertically integrated approach to property and asset management positions our team to maximize these investments for not only our investors but also our tenants. We are especially excited to expand into Las Vegas, and similar to our operations in Colorado, Arizona and Idaho, believe in that market on a long-term horizon."

915 E. Dale Avenue, Baron’s first acquisition in the Las Vegas market, is in the West Henderson submarket. The 33,900 square foot building sits directly across from Henderson Executive Airport and is directly north of Haas Automation’s 2.5 million square foot headquarters. The Class A building is 100% leased to two tenants and features rear-load design with dock-high and grade-level loading to both suites, 24’ clear height, ESFR fire protection, and 1,200 amps of power.

Matt Riggs, President of Baron, added: “Founded as a hands-on owner-operator in 1983, Baron has built a reputation for strategically investing in real estate while maintaining operational excellence through in-house asset management, property management, accounting, and construction. Shallow-bay industrial fits our firm's expertise - managing the user-base and construction internally leads to lower cost and optimal outcome for the tenant and our stakeholders. Our portfolio now exceeds twenty shallow-bay properties across the mountain west and southwest, and our team is motivated to continue our growth sensibly and conservatively. As we celebrate this acquisition, Baron remains focused on identifying opportunities where our operational expertise and long-term ownership approach can create lasting value for our tenants, investors, employees, and communities."

About Baron Properties

Baron Properties is a privately owned, full service real estate firm focused on investments, development, and management of multifamily and industrial assets. Since 1983, Baron and its sister companies have invested in, developed, or redeveloped over $3B worth of properties across Colorado, Arizona, Idaho, Texas and Wisconsin. Headquartered in Denver with two regional offices in Scottsdal
e, AZ and Boise, ID, Baron employs more than 150 professionals.