PHOENIX, AZ — April 2, 2026 — An Industrial Outdoor Storage (IOS) property at 9801 North 19th Avenue in Phoenix has sold for $4,150,000, reflecting continued strong demand for yard-intensive industrial assets in the North Black Canyon submarket. The owner-user acquisition underscores the premium buyers are willing to pay for scarce IOS-zoned properties with significant land positions along established infill corridors.
The transaction was brokered by the Sheehan | Schumacher Industrial Team at Rein & Grossoehme Commercial Real Estate (RGCRE), which provided landlord representation in the sale. The team, led by Patrick Sheehan and Max Schumacher, SIOR, has been tracking accelerating IOS pricing trends across the Phoenix metropolitan area as available inventory continues to tighten.
Key Highlights
- Sale Price: $4,150,000
- Price Per Square Foot (Building): $587.82/SF
- Building Size: 7,060 SF
- Land Area: 2.67 acres (116,305 SF)
- Price Per Square Foot (Land): ~$35.68/SF of land area
- Sale Type: Owner-user acquisition
- Submarket: North Black Canyon, Phoenix, AZ
- Property Type: Industrial Outdoor Storage (IOS / ISF)
- Close Date: April 2, 2026
Transaction Metrics at a Glance
| Metric | Value |
|---|---|
| Sale Price | $4,150,000 |
| Building SF | 7,060 SF |
| Price / Building SF | $587.82 |
| Land Area | 2.67 acres (~116,305 SF) |
| Estimated Price / Land SF | ~$35.68 |
| Land-to-Building Ratio | ~16.5:1 |
| Sale Type | Owner User |
| Submarket | North Black Canyon |
Why This Deal Matters: IOS Pricing Reflects Land Value, Not Just Improvements
According to Max Schumacher, SIOR, the $587.82 per building square foot headline figure reflects a dynamic unique to Industrial Outdoor Storage transactions — the true value driver is the land, not the improvements.
"When you look at a 7,060-square-foot building sitting on 2.67 acres, you're looking at a land-to-building ratio of roughly 16.5 to 1," said Schumacher. "The buyer isn't paying nearly $588 per square foot for the building. They're paying for 2.67 acres of secured, IOS-zoned land in an infill location with immediate freeway access. That's what commands premium pricing in today's Phoenix industrial market."
At approximately $35.68 per square foot of total land area, the transaction aligns with the upward trajectory in Phoenix IOS land values, particularly along the I-17 corridor where entitled yard sites remain exceptionally scarce.
North Black Canyon: An Infill IOS Submarket Under Pressure
The North Black Canyon corridor, running along Interstate 17 in north-central Phoenix, has historically served as a hub for contractor yards, equipment storage, fleet operations, and distribution-oriented businesses that require substantial outdoor staging areas. As infill development and rezoning activity compress the supply of IOS-zoned parcels across metro Phoenix, owner-users are increasingly competing for a shrinking pool of functional yard properties.
Patrick Sheehan noted that the owner-user buyer profile is becoming the dominant force in IOS acquisitions. "Operators who depend on yard space — whether for construction staging, heavy equipment, or fleet parking — understand that if they don't own their site, they risk being displaced by redevelopment," Sheehan said. "This transaction is a clear example of an end user making a strategic real estate decision to lock in a critical operational asset."
Industrial Outdoor Storage: A National Trend Playing Out Locally
Phoenix's IOS market mirrors a national trend in which institutional and private investors have increasingly recognized outdoor storage and yard properties as a distinct asset class. However, as Schumacher noted, the Phoenix market's combination of population growth, infrastructure expansion, and constrained zoning makes local IOS assets particularly competitive.
"Every IOS site that sells in an infill submarket like North Black Canyon is one fewer option for the next buyer," said Max Schumacher, SIOR. "We continue to see compressed days on market and upward pricing pressure across nearly every Phoenix IOS corridor."
Market Context
The Sheehan | Schumacher Industrial Team at Rein & Grossoehme Commercial Real Estate tracks all industrial property transactions across the Phoenix metro area, with particular focus on Industrial Outdoor Storage, single-tenant industrial, and multi-tenant flex properties. Transaction data referenced in this release is derived from proprietary deal records and public filings.
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.