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10/09/25
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Marigold Two-Pack, a two-building industrial portfolio totaling 237.8k sf located in infill submarkets of Metro Phoenix, was acquired by an Ares Real Estate fund. The portfolio consists of a 100k sf property in the Southwest Valley submarket and a 137.8k sf asset in the Airport Area submarket.
The Marigold Two-Pack offers timeless and functional design and amenities, including secured and gated yards, 22- to 30-foot clear heights, ample dock-high and grade-level loading, excess parking and low office build-out.
Both properties were fully leased at the time of sale to a total of six tenants. The portfolio's tenant base represents diverse industries, including logistics, asset management, wholesale distribution, automotive parts and HVAC equipment.
Location advantages prove critical to the portfolio's consistent performance. The 100k sf property sits less than one mile west of the new Loop 202 expansion and within five miles of both Interstate 10 and Interstate 17, providing 13-minute access to Sky Harbor International Airport. The other facility benefits from the Airport Area's coveted infill positioning, located just 0.6 miles from Interstate 17 and 2.3 miles from Sky Harbor Airport, the nation's ninth-busiest passenger facility.
Ben Geelan and Greer Oliver with JLL Capital Markets represented the seller in the transaction. Ares Industrial Management will manage the portfolio.
"Institutional capital continues to recognize the compelling fundamentals of Phoenix's infill industrial submarkets," said Oliver. "The Marigold Two-Pack offers investors the best of both worlds – stable cash flow from quality tenants in proven locations, combined with significant mark-to-market opportunity as rents reset to current market levels. These supply-constrained infill positions provide the scarcity and growth characteristics that institutional buyers value most today."
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