PHOENIX, AZ — March 5, 2026 — An industrial outdoor storage (IOS) property at 1702 S 19th Ave in Phoenix has sold for $2,150,000, reflecting a sale price of $307.14 per square foot on the building and underscoring the continued premium that owner-users are placing on yard-intensive industrial assets in Phoenix's southwest corridor.
The transaction was brokered by the Sheehan | Schumacher Industrial Team at Rein & Grossoehme Commercial Real Estate (RGCRE), with Patrick Sheehan and Max Schumacher, SIOR, handling landlord representation on the deal.
Key Highlights
- Sale Price: $2,150,000
- Building Size: 7,000 SF on 0.98 acres
- Price Per Square Foot: $307.14
- Property Type: Industrial with Outdoor Storage / Yard (ISF)
- Submarket: Southwest Phoenix, south of Buckeye Road
- Buyer Profile: Owner-user
- Sale Date: March 5, 2026
Transaction Details
The property at 1702 S 19th Ave sits on nearly one full acre of land — a land-to-building ratio of approximately 6.1:1 — which is a defining characteristic of industrial outdoor storage assets. This generous ratio provides substantial yard space relative to the enclosed building footprint, a configuration that is increasingly difficult to replicate in infill Phoenix locations.
"The pricing on this deal reflects the real value of functional outdoor storage land in an infill corridor," said Max Schumacher, SIOR, of Rein & Grossoehme Commercial Real Estate. "When you look at this transaction purely on a price-per-square-foot basis, $307 per square foot seems elevated. But this is fundamentally a land play — the buyer is acquiring nearly an acre of secured, industrial-zoned yard space in a submarket where that type of inventory is not being replaced."
The owner-user acquisition signals a broader trend across the Phoenix industrial market: end-users are willing to pay premium prices for IOS properties that combine functional yard space with proximity to major transportation corridors and core urban demand drivers.
Deal Metrics Summary
| Metric | Value |
|---|---|
| Sale Price | $2,150,000 |
| Building SF | 7,000 |
| Land Area | 0.98 acres (~42,689 SF) |
| Price / Building SF | $307.14 |
| Estimated Price / Land SF | ~$50.36 |
| Land-to-Building Ratio | ~6.1:1 |
| Buyer Type | Owner-User |
| Submarket | SW Phoenix (S of Buckeye Rd) |
Why IOS Assets Command Premium Pricing
Industrial outdoor storage properties have emerged as one of the most supply-constrained asset classes in the Phoenix metropolitan area. Unlike traditional industrial facilities where value is concentrated in the building envelope, IOS properties derive significant value from their land component — particularly the usable, secured yard area that supports equipment storage, fleet parking, materials staging, and construction logistics.
Patrick Sheehan of Rein & Grossoehme Commercial Real Estate noted that the southwest Phoenix submarket south of Buckeye Road remains a critical node for industrial users who require outdoor storage capacity. "This corridor benefits from proximity to the I-17, downtown Phoenix, and the broader West Valley logistics network," Sheehan said. "Zoning and entitlement challenges make it extremely difficult to create new IOS inventory in these locations, which puts upward pressure on pricing every year."
The $2.15 million sale at 1702 S 19th Ave adds to the growing body of transaction evidence supporting the thesis that infill IOS land values in Phoenix are repricing upward as supply dwindles and user demand remains persistent across construction, logistics, and infrastructure-related tenants.
Market Context
The Phoenix industrial market continues to experience strong fundamentals heading into mid-2026, with vacancy rates in infill submarkets remaining well below metro-wide averages. Industrial outdoor storage properties — characterized by high land-to-building ratios and functional yard space — have become one of the most competitive product types in the market, driven by owner-user demand and a structural shortage of entitled industrial land in established corridors. Transactions like the 1702 S 19th Ave sale provide critical pricing benchmarks for a product type that remains underrepresented in traditional market reports.
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.