SCOTTSDALE, AZ — February 26, 2026 — An industrial outdoor storage (IOS) property at 8607 N 77th Dr in Peoria, Arizona, has sold for $1,500,000, reflecting sustained owner-user demand for yard-intensive industrial assets in the Grand Avenue submarket. The 1.57-acre site closed on February 26, 2026, in an owner-user acquisition that underscores the continued scarcity of entitled IOS parcels across the Phoenix metropolitan area.
The transaction was brokered by the Sheehan | Schumacher Industrial Team at Rein & Grossoehme Commercial Real Estate (RGCRE), with Max Schumacher, SIOR, and Patrick Sheehan providing landlord representation on the sale.
Key Highlights
- Property Address: 8607 N 77th Dr, Peoria, AZ
- Sale Price: $1,500,000
- Land Area: 1.57 acres (68,389 SF)
- Price Per Acre: ~$955,414
- Price Per Square Foot (Land): ~$21.93
- Property Type: Industrial with Outdoor Storage / Yard (ISF/IOS)
- Sale Type: Owner-User Acquisition
- Submarket: Grand Avenue, Peoria
- Representation: Sheehan | Schumacher Industrial Team, Rein & Grossoehme Commercial Real Estate
Deal Metrics Summary
| Metric | Value |
|---|---|
| Sale Price | $1,500,000 |
| Land Area | 1.57 acres (68,389 SF) |
| Price Per Acre | ~$955,414 |
| Price Per SF (Land) | ~$21.93 |
| Sale Type | Owner-User |
| Submarket | Grand Avenue, Peoria |
| Close Date | February 26, 2026 |
IOS Assets Continue to Command Premium Pricing in Grand Avenue Corridor
The sale of 8607 N 77th Dr represents a meaningful data point for the Phoenix industrial outdoor storage sector, a property class that has become increasingly difficult to source as zoning restrictions and urban infill development reduce the inventory of yard-ready industrial sites across Maricopa County.
"Industrial outdoor storage properties along the Grand Avenue corridor continue to attract strong interest from owner-users who need functional yard space for operations, equipment staging, and fleet parking," said Max Schumacher, SIOR, of Rein & Grossoehme Commercial Real Estate. "This sale at roughly $955,000 per acre reflects the premium that operators are willing to pay for entitled IOS sites with proximity to major transportation routes."
The Grand Avenue submarket — anchored by US-60 and the Grand Avenue (US-60/AZ-303) interchange network — has historically served as a magnet for industrial and yard-intensive users due to its favorable zoning, relatively lower land basis compared to core Phoenix submarkets, and direct arterial connectivity to the broader West Valley logistics network.
Owner-User Acquisition Signals Operational Demand
The owner-user nature of this transaction is significant. Unlike investor-driven acquisitions, owner-user purchases typically indicate real operational demand — buyers who intend to occupy and utilize the property for their core business functions. According to Patrick Sheehan of Rein & Grossoehme Commercial Real Estate, the owner-user buyer profile has been the dominant force in Phoenix IOS transactions under five acres, where smaller operators compete aggressively for sites that can accommodate outdoor storage, laydown yards, and heavy vehicle access.
"The sub-two-acre IOS segment is one of the most competitive property classes in the Phoenix market right now," Sheehan noted. "These assets rarely trade publicly, and when they do, they move quickly — often to buyers who have been searching for months."
Market Context: Phoenix IOS Supply Constraints
Phoenix remains one of the most active industrial markets in the western United States, with sustained population growth and infrastructure investment driving demand across all industrial asset classes. Within the IOS niche specifically, several structural factors continue to tighten supply:
- Zoning limitations: Many municipalities across the Phoenix metro are increasingly reluctant to approve new industrial outdoor storage entitlements, particularly in transitioning suburban areas.
- Infill displacement: Existing IOS sites in core submarkets are being redeveloped for higher-density industrial or commercial uses, further reducing functional yard inventory.
- Operational necessity: Sectors including construction, landscaping, utilities, transportation, and last-mile logistics require outdoor storage that cannot easily be replicated in conventional warehouse or flex space.
These dynamics have positioned IOS-classified parcels — particularly entitled sites with existing improvements — as some of the most supply-constrained industrial assets in the greater Phoenix market.
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.