CIP Acquires Mesa Commerce Park for $168.3M

CIP Real Estate purchased Broadway 101 Commerce Park in Mesa for $168.3 million. The 809,230-square-foot industrial asset spans 11 buildings on 53 acres in Mesa.

Cushman & Wakefield advised the sale and acquisition financing for the deal. The company claims the sale set several local records, including the largest Phoenix industrial sale in 2024, the largest legacy industrial sale in Phoenix’s history, and the largest single transaction for an industrial park in Phoenix’s Southeast Valley. The seller was Canyon Partners. 

Built in 2005 through 2007, the property is currently 98% leased to a roster of 34 tenants.

Will Strong, Michael Matchett, and Molly Hunt of Cushman & Wakefield’s National Industrial Advisory Group, Mountain West represented the seller in the transaction.

Additionally, a Cushman & Wakefield Equity, Debt & Structured Finance team, including Rob Rubano, Brian Share, and Joseph Lieske, arranged the $93.8 million acquisition loan from institutional investors advised by J.P. Morgan Asset Management on behalf of CIP Real Estate.