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3/14/25
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Rose Garden Business Park, a 159.3k sf, small-bay industrial park comprising nine buildings on just over 10 acres in Phoenix, was acquired by an affiliate of BKM Capital Partners in a $35.1 mil ($220/sf) transaction. The multi-tenant property was sold by BKM Capital Partners.
Rose Garden Business Park is located at 1801-1831 West Rose Garden Lane and 20801-20823 North 19th Ave in the Deer Valley submarket. Built in 1987, the property is currently fully leased.
Rose Garden Business Park features high visibility at the corner of West Rose Garden Lane and North 19th Ave. The property is located less than a half mile from the Loop 101 Freeway and I-17 Interchange. It features 18-foot clear height, 43 grade-level doors and 16 dock-doors.
Cushman & Wakefield’s Bob Buckley and Tracy Cartledge in collaboration with Cushman & Wakefield’s National Industrial Advisory Group – Mountain West led by Will Strong, Michael Matchett, Molly Hunt, Jack Stamets, and Madeline Warren represented the seller in the deal.
“Rose Garden Business Park is an exceptional project offering functional suite layouts catering to the small-bay user. This segment of the market continues to demonstrate robust tenant demand, limited available supply, and increasing rents. These market fundamentals have resulted in rapidly improving property operations. Furthermore, the seller’s significant capital infusion into upgrading the complex prior to the sale resulted in a notable increase in occupancy bringing it to 100% leased,” noted Buckley.
“The premier Deer Valley submarket continues to thrive, driven by high-tech manufacturing, warehousing, and a large services sector that has transformed the area. At the core of this Market improvement is TSMC’s and Amkor Technology’s new chip-manufacturing plant(s) in north Phoenix, which has propelled the prolific industrial growth happening in the area,” added Matchett.
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