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6/28/22
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In a notable AZ industrial acquisition, Stockbridge purchased a recently built, 147.4k sf Class A warehouse/distribution building on 28.6 acres in Mesa, AZ. Located at 3115 N Higley Rd, the single-tenant logistics building was constructed in 2018 and is fully leased to a Fortune 10 global e-commerce company. It was sold by Lexin Capital.
Designed as a state-of-the-art last mile delivery station, the Class A, tilt-up concrete building features 32’ clear height, ESFR sprinklers, skylights, R-38 insulation and heavy power (3,600 amps at 277/480 volts). In addition, the property has a 135’ fully secured, 100% concrete truck court and ample parking spaces.
The property is conveniently located in the Southeast industrial submarket and in a central industrial hub with immediate access to Loop 202. The location is less than 20 miles to both Phoenix Sky Harbor International Airport and Phoenix-Mesa Gateway Airport, and also provides exceptional access to all points in the metropolitan Phoenix area, and the greater California region via the I-10 Freeway and Loop 101.
Will Strong, Kirk Kuller, Greer Oliver and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.
“Fully leased to a renowned high credit tenant, this is a “best-in-class” last-mile logistics building with a critical location in Metro Phoenix’s Southeast Valley, a thriving market supported by job and residential growth, top-notch educational institutions, and world-class amenities—a place where people want to live, work and play,” said Strong. “Additionally, the property’s strategic location close to multiple major freeways provides great access to take advantage of the region’s deep and skilled labor base.”
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