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8/11/26
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A two-property, 277k sf industrial portfolio in Metro Phoenix sold for $79.35 mil ($286/sf). The properties, featuring mission-critical facilities with highly specialized infrastructure and long-term lease commitments, were acquired by funds managed by Morgan Stanley Real Estate Investing (MSREI).
The portfolio includes AMPlify Chandler, a 196.8k sf industrial facility fully occupied by Fortune 100 aerospace and advanced manufacturing leader Honeywell Aerospace, and AMPlify Riverpoint, an 80.3k sf aviation maintenance and training facility fully leased to the Aviation Institute of Maintenance.
AMPlify Chandler is located at 6505 W Chandler Blvd, less than a mile from Interstate 10 and Loop 202 interchange in Chandler. Originally built in 1981, the property was renovated in 2025 with a new 40k sf expansion building specifically designed to meet Honeywell's operational requirements. The facility features an on-site, fully owned and property-dedicated 50MW substation, positioning it as a heavy-infrastructure industrial asset capable of supporting advanced manufacturing operations.
AMPlify Riverpoint, located at 4025 S 32nd St, includes two aircraft hangars housing seven training aircraft, along with technical labs, a composite shop and specialized industrial space. The property features prominent I-10 freeway frontage adjacent to the completed Broadway Curve Improvement Project and is positioned at the center of a growing aviation and technical employment hub near Phoenix Sky Harbor International Airport.
A JLL Capital Markets team led by Senior Managing Directors Ben Geelan and Carl Beardsley, Senior Director Greer Oliver, Associate Bryce Beecher and Senior Analyst Gigi Martin represented the seller, Phoenix Rising Investments LLC and an affiliate of Blue Vista Capital Management LLC. Local market expertise was provided by JLL's leasing team, led by Vice Chairman Steve Larsen, Managing Director Jason Moore and Senior Managing Directors Pat Harlan and Kyle Westfall.
"Over the past seven years, we've transformed this facility into a state-of-the-art advanced manufacturing campus through strategic capital investment and close collaboration with Honeywell," said Michael Hsiung, co-founder of Phoenix Rising Investments. "With Honeywell's long-term lease commitment extending beyond 2030, we're confident this asset will continue to serve as a critical manufacturing hub under MSREI's stewardship."
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