One of Arizona’s largest businesses bought a onetime FedEx facility in Phoenix. Knight-Swift Transportation Holdings’ affiliate bought a distribution facility at 7160 W. Sherman St. from EQT Real Estate for $30 million. The Phoenix Business Journal reports EQT had bought the facility from FedEx in 2021 for $24.1 million.
Knight-Swift Transportation (NYSE: KNX) ranks as the No. 10 largest public company in Arizona with $7.41 billion in revenue during the 2024 fiscal year.
The property – located off 75th Avenue and Interstate 10 – features two buildings totaling 34,620 square feet, as well as the truck terminal.
Andrew Gibbs with Burr & Temkin represented the seller, while Cresa’s Eric Walker represented the buyer in the deal.
The property is currently nearly vacant, though Amazon is leasing a small portion to park some of its fleet vehicles. Knight-Swift will now occupy the facility and use it for its own freight operations.
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