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10/01/21
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A 56.5-acre development site in Mesa, AZ’s Elliot Road Technology Corridor was acquired for $16.6 mil by Phoenix-based real estate investor and developer Eisenberg Company.
The buyer has approved plans with the City of Mesa to begin immediate development on a five-building, 770k sf Class A industrial property, which will be known as MET202. The buildings will range in size from 77k sf to 221k sf and will offer 32’ clear height, both grade-level and dock-high loading, plus additional features.
The property, located at the northeast corner of Crismon Rd and Elliot Rd within Mesa’s Elliot Road Technology Corridor, sits adjacent to Salt River Project’s high-power transmission lines and is less than one block from the Browning Substation, which makes the site ideal for companies needing large amounts of redundant, dedicated power. It is also within proximity to the Loop 202 Fwy and provides nearly 2,200 feet of frontage along Crismon Rd.
CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the institutional seller in the deal. This was the third disposition in Arizona since 2018, and the second one in 2021 the CBRE team helped facilitate for the seller. Steve Larsen with JLL repped the buyer.
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