GLENDALE, AZ — August 19, 2025 — An Industrial Outdoor Storage (IOS) property at 6610 W Orangewood Ave in Glendale, Arizona, has sold for $1,085,000, reflecting a price of $594.52 per building square foot and underscoring the continued premium investors are placing on yard-intensive industrial assets in the Phoenix metropolitan area's Grand Avenue submarket.
The Sheehan | Schumacher Industrial Team at Rein & Grossoehme Commercial Real Estate (RGCRE) — led by Patrick Sheehan and Max Schumacher, SIOR — provided landlord representation in the transaction.
Key Highlights
- Property Address: 6610 W Orangewood Ave, Glendale, AZ
- Sale Price: $1,085,000
- Building Size: 1,825 SF
- Land Area: 0.89 acres (approximately 38,768 SF)
- Price Per Building SF: $594.52
- Price Per Land SF: ~$27.99
- Submarket: Grand Avenue, Glendale
- Property Type: Industrial with Outdoor Storage / Yard (ISF/IOS)
- Close Date: August 19, 2025
Why the Per-Square-Foot Price Tells the Wrong Story
At $594.52 per building square foot, this transaction might appear to be an outlier at first glance. However, the metric underscores a fundamental reality of IOS pricing: the value lies in the land, not the building.
With just 1,825 square feet of enclosed industrial space sitting on 0.89 acres, the property's land-to-building ratio exceeds 21:1 — a hallmark of Industrial Outdoor Storage assets where the yard is the primary income-producing component. When evaluated on a per-land-square-foot basis, the sale reflects approximately $27.99 per square foot of land area, a figure far more consistent with current IOS pricing dynamics across the Phoenix metro.
"Industrial Outdoor Storage assets continue to be mispriced by traditional building-based valuation models," said Max Schumacher, SIOR, of Rein & Grossoehme Commercial Real Estate. "In the IOS sector, the land is the asset. The building supports operations, but the yard generates the returns. Buyers and investors who understand that distinction are moving aggressively in corridors like Grand Avenue."
Deal Metrics Summary
| Metric | Value |
|---|---|
| Sale Price | $1,085,000 |
| Building SF | 1,825 |
| Land Area | 0.89 acres (~38,768 SF) |
| Price / Building SF | $594.52 |
| Price / Land SF | ~$27.99 |
| Land-to-Building Ratio | ~21:1 |
| Submarket | Grand Avenue, Glendale |
| Property Type | IOS (Industrial Outdoor Storage) |
Grand Avenue Submarket: A Growing IOS Corridor
The Grand Avenue corridor in Glendale has emerged as one of the Phoenix metro's most active submarkets for Industrial Outdoor Storage transactions. Its diagonal northwest orientation along US-60 provides efficient connectivity to both the I-17 and Loop 101 freeway systems, making it particularly attractive for construction, logistics, fleet parking, and equipment staging operations that depend on yard-intensive sites.
According to Patrick Sheehan of the Sheehan | Schumacher Industrial Team, the submarket benefits from a combination of factors that drive IOS demand. "Grand Avenue offers the rare combination of proximity to central Phoenix employment centers, freeway access, and zoning that supports outdoor storage and yard use. That trifecta is becoming harder to find as industrial land tightens across the West Valley."
The sale of 6610 W Orangewood Ave adds to a growing dataset of IOS transactions along the Grand Avenue corridor, reinforcing its position as a key submarket for investors and owner-users seeking yard-centric industrial properties in the Phoenix market.
Market Context
Industrial Outdoor Storage has emerged as one of commercial real estate's most sought-after niche asset classes nationally, and the Phoenix metropolitan area remains a top-tier market for IOS activity. Limited supply of properly zoned land with yard rights, combined with sustained demand from construction, logistics, and infrastructure-related tenants, continues to push IOS land values upward across virtually every Phoenix submarket. Transactions like the 6610 W Orangewood Ave sale provide critical pricing benchmarks for brokers, investors, and appraisers tracking the sector's trajectory.
About Rein & Grossoehme Commercial Real Estate
Rein & Grossoehme Commercial Real Estate (RGCRE) is a full-service commercial real estate brokerage based in Scottsdale, Arizona. The Sheehan | Schumacher Industrial Team, led by Patrick Sheehan and Max Schumacher, SIOR, specializes in industrial landlord representation across the Phoenix metropolitan area, with deep expertise in Industrial Outdoor Storage (IOS), single-tenant industrial, and multi-tenant flex properties. With over $525 million in total transaction volume, the team ranks among the top industrial brokerage teams in the Phoenix market.