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5/16/25
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Libitzky Property Companies, out of Emeryville, CA, purchased a 141.1k sf, Class A industrial asset in Mesa, AZ for $29.4 mil ($208/sf). The building is currently 100% leased to Cyclic Materials on a brand new 10-year lease.
Located at 8341 East Pecos Rd, the freestanding building is well-located in Metro Phoenix’s high-demand Southeast Valley submarket. It is part of a larger, state-of-the-art industrial business park known as Phelan Pecos Center that also features two additional buildings totaling 333.2k sf. The seller, Phelan Development, partnered with Alston Construction and LGE Design Build to deliver the structure in 2024.
The building features 32-ft clear height, a heavy 6,000 amps of power, a private truck court with optimal loading capabilities, 28 dock-doors and three grade-doors, multiple access points, functional column spacing, full-building HVAC, LED lighting, ample parking, and freeway and airport proximity.
Cushman & Wakefield’s Private Capital Group in Phoenix consisting of Phil Haenel, Will Strong, Foster Bundy, Molly Hunt and Katie Repine represented the seller in the transaction.
“This newly constructed Class A building is a premier industrial asset offering a strategic location with excellent connectivity, superior features, and robust market fundamentals. Secured by a recently executed long-term lease with Cyclic Materials—which also plans to make additional significant tenant improvements reinforcing its long-term commitment—the property provides steady cash flow while benefiting from its position in a rapidly growing submarket,” said Haenel.
According to Cushman & Wakefield’s latest market report, the Southeast Valley cluster of industrial submarkets reported approximately 770k sf of positive net absorption (occupancy growth) in Q1 2025, representing about 43% of Metro Phoenix’s total industrial market growth. This also continued the momentum from 2024 in which the Southeast Valley tallied approximately 4.2 msf of occupancy growth.
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