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November 27, 2020
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Merit Partners Picks Up 83 Acres in Phoenix for Development

7/08/20

In a recent Phoenix land buy, an entity formed by Phoenix-based Merit Partners acquired approximately 83 acres of vacant land on which it plans to construct a brand new 900k sf, seven-building Class A+ industrial park. The property will be developed on a build-to-suit and/or speculative basis, and the multi-building project will be known as the Merit Sky Harbor Industrial Park.

Merit Partners’ future master-planned industrial park will be strategically located at 7th Ave and Elwood St in Phoenix’s Sky Harbor Airport submarket. The land, which is one of the last large undeveloped infill land sites remaining in the Sky Harbor Airport submarket, was sold by Mexico-based CEMEX, a multinational building materials company.

Cushman & Wakefield’s Phil Haenel, Andy Markham and Mike Haenel represented both the buyer and the seller in the land sale. The C&W team has also been retained for the leasing of the new Merit Sky Harbor Industrial Park project. According to C&W, this is the first land sale of such magnitude in Phoenix since the COVID-19 pandemic.






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